India rupee tracks regional peers higher, focus stays on tariff news
currency's moves will depend on the news flow regarding U.S. tariffs and economic data, and the local central bank's reaction.
The rupee ended at 87.3700 against 87.4950 in the previous session. The Indian currency dropped 1% in February, logging its fifth straight monthly loss.
«There was a mild recovery in the rupee, as it was slightly in an oversold zone last week,» a trader with a private bank said.
Hedging demand, persistent equity outflows, and the usual market flows exerted downward pressure on the rupee last week, traders said.
The dollar index was 0.4% down in Asian hours at 107.21, with the major focus remaining on the implementation of tariffs.
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