The Indian Rupee found support today, aided by the Reserve Bank of India’s intervention and a dip in crude oil prices. Reports of US President Donald Trump engaging with Russian and Ukrainian leaders to discuss ending the war boosted sentiment, benefiting oil-importing nations like India.
However, INR faces headwinds from renewed USD demand, maturing NDF positions, and foreign investor equity outflows. Meanwhile, Prime Minister Narendra Modi’s US visit includes discussions with Trump administration officials and Elon Musk, potentially covering Tesla and Starlink’s India expansion.
Markets eye key US data—Initial Jobless Claims and the Producer Price Index —which could influence USD movement and INR’s trajectory