Indian Rupee Faces Headwinds Despite Strong PMIs
The Indian Rupee closed at 83.45 against USD last week, representing a 0.15% decline. Manufacturing and services PMIs missed expectations, albeit still showing very strong expansion. A drop in foreign exchange reserves did weigh on the Rupee, however, later in the week.
Published on 15 May 2024
The Indian Rupee closed at 83.45 against the USD, reflecting a 0.15% decline, with manufacturing and services PMIs showing strong expansion despite missing expectations, while a drop in foreign exchange reserves later in the week weighed on the Rupee.
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