Key Points
MUMBAI (Reuters) The Indian rupee ended flat on Monday as dollar demand from local oil companies pulled the currency off a near three-month high, hit due to likely portfolio inflows...
The currency rose to 83.4450 earlier in the session, its highest since June 28...
The rupee had risen in the last five sessions, benefiting from a pickup in portfolio inflows and broad weakness in the dollar after the Federal Reserve kicked off its rate cuts last week...
Given the recent price action on the dollar/rupee pair, any upward moves should be seen as an opportunity to sell, Amit Pabari, managing director at FX advisory firm CR Forex said...
It will be interesting to see how the Reserve Bank of India plays its hand, Pabari said, referring to whether the central bank will allow the rupee to rise further or intervene to limit appreciation...
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