Indian Rupee Recovers Slightly After Hitting Record Low Against US Dollar
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#19e6c8d0 ver:0.53
The Indian rupee, which hit a record low against the US dollar on Friday, has shown signs of recovery. The USD/INR exchange rate is falling after gains last week, settling on Friday at 83.58 . Despite concerns about India's inflation and economic growth due to rising oil prices caused by escalating disputes in the Red Sea, the rupee is rising against the dollar . The US dollar, however, is rising against major peers, with the US Dollar Index trading at +0.24% at the time of writing at 104.89 . The Federal Reserve has left rates on hold at a 22-year high of 5.25% to 5.5% but maintained guidance that it would cut interest rates three times this year . Attention will be on Friday's core PCE data, which is the first preferred rate for inflation and could provide further clues about whether inf...
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