💨 Abstract

The Indian rupee is expected to weaken on Tuesday due to global risk aversion triggered by concerns over a potential U.S. recession. This is indicated by the one-month non-deliverable forward, which predicts the rupee opening at 87.40 to the U.S. dollar. The local currency weakened 0.5% in the previous session due to maturing positions in the non-deliverable forwards market.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖