
USDINR Extends Decline, More Dollar Trouble Looms As Indian PMI Awaits
The Indian rupee continues to gain ground against the US dollar and was up on Monday to send the USDINR pair to three-month lows of 85.39. The pair has been on an extended downtrend in the last three weeks and is down by 0.2% year-to-date. The rupee’s upsurge is propelled by rising foreign institutional inflows…