Last week, The Indian Rupee spot appreciated by 0.10 percent tracking gains in the domestic markets i.e. Sensex and Nifty on the back of uninterrupted foreign inflows in local equity and debt markets. Moreover, forecast of a normal monsoon amid positive global cues added to the positive sentiment.
Furthermore, weakness in the American currency in the overseas markets added to the rupee’s strength. The Trump administration fired the FBI Director James Comey as they thought that Comey fumbled the FBI’s investigation into whether Hillary Clinton mishandled classified info while she was sec. of state which has badly damaged the FBI’s reputation. Today, USDINR spot is likely to appreciate as weakness in the DXY amid FBI Director’s firing and allegations.
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