Forex Market News

The Indian Rupee Appreciated

The Indian Rupee appreciated by 0.18 percent in yesterday’s trading session owing weak DX in the overseas market after the conference of US President elect Donald Trump. Trump mentioned nothing about tax cuts and infrastructure spending which were the two factors that had fueled the five-week rally in stocks and a selloff in global bond markets.
This affected the movement in the American currency in turn boosting the demand for the Indian Rupee. However, USDINR is expected to depreciate in today’s trading session as the American currency will get a slight boost post US Fed Chair speech where she spoke about optimistic labor market, wage and inflation growth.
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