Synopsis The Indian rupee traded in a narrow range on Thursday, supported by central bank actions. Global factors showed limited impact as the Reserve Bank of India maintained currency stability. Speculative positioning remains cautious, with a lean towards further rupee depreciation. Elevated oil prices pose a significant macroeconomic risk for India’s energy imports. Analysts anticipate potential rate hikes if inflation breaches the central bank’s tolerance band. The Indian rupee lumbered in a thin range on Thursday, with both positive and negative global cues having limited impact on the currency as sustained interventions by the Reserve Bank of India continued to…
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