Forex Market News

The Indian Rupee Appreciated

The Indian Rupee appreciated by 0.21 percent yesterday as disappointing release of ADP Non-Farm Employment Change data from the US pushed the American currency lower which in turn worked in favor of the Indian Rupee.
Moreover, minutes from the Federal Reserve’s December’16 meeting suggested a less hawkish stance from policymakers which boosted foreign inflows in emerging market equities including India. Due to all the above factors, USDINR is likely to appreciate in today’s trading session.
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