The Indian Rupee appreciated by 0.42 percent owing to a number of factors. In the July’17 FOMC policy statement, the Feds did not look very committed to raising interest rates anytime soon given the weak inflation rate.
They mentioned something about balance sheet normalization starting relatively soon. On the domestic front, markets traded mostly on the upside all thanks to the implementation of GST bill and surge in the stock prices of large caps and finance ministers expectation of increased growth forecast.
All the above factors boosted the foreign inflows which are currently standing at $ 26229.76 million from $ 22990.89 million as on 1st July’17. Today, USDINR spot is likely to trade positive.
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