USDINR trading range for the day is 64.39-64.73. Rupee traded with little change as investors await the Reserve Bank of India’s monetary policy meeting outcome.
RBI will likely strike a less hawkish tone while leaving interest rates unchanged at a policy meeting, as inflation is running well below forecasts. Consumer price inflation data for May will be released next week, but going by the April figures inflation is trending well below the RBI’s projection for 4.5%.
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