💨 Abstract
The Indian rupee is expected to open flat to slightly lower on Wednesday, due to a strong U.S. dollar backed by a hawkish Federal Reserve and Donald Trump's presidential term. The rupee has reached a sixth consecutive record closing low, overvalued by around 8%, and is likely to continue depreciating. This is attributed to multiple headwinds, including India's slowing growth and widening trade deficit.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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