• Indian Rupee ended day on flatter note at 88.06 levels, asrupee’s gains remained limited due to continued importer hedging, which kept dollar demand elevated, and sustained foreign portfolio outflows as investors stayed cautious amid global uncertainties. Trade concerns, particularly fears of US tariffs on Indian exports, also weighed on sentiment and prevented stronger appreciation.

• In the broader currency market, EUR/USD touched 1.18 levels today, supported by a softer dollar and expectations of dovish policy moves, while GBP/USD climbed to multi-week highs above 1.3600 ahead of upcoming central bank meetings. Overall, the rupee is expected to remain volatile in the near term, with external pressures continuing to shape sentiment, and the Reserve Bank of India may intervene if the decline intensifies.

Indian rupee started day on stronger note at 88.08 levels against yesterday’s closing of 88.20 levels. Rupee’s movement continues to be influenced by global risk sentiment, crude prices, and expectations around US monetary easing.

Global markets steadied today as markets awaited the US Federal Reserve’s two-day policy meeting, with markets almost fully pricing in a 25bps cut and a total of about 67bps of easing by year-end.