Foreign Inflows to Bolster Indian Rupee vs US Dollar: ING
ING economists Deepali Bhargava and Lynn Song note that the Indian Rupee has lost some of its June gains due to US-Iran tensions and rising oil prices, but they expect foreign inflows to provide support against the dollar.
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According to ING economists Deepali Bhargava and Lynn Song, the Indian Rupee has retraced much of its June gains. They attribute this pullback to heightened US-Iran tensions and rising oil prices.
Despite the recent weakness, the economists anticipate that foreign inflows will help the rupee against the US dollar.
Source: FXStreet Forex News