💨 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 🤖