The rupee, having depreciated 0.6 per cent against the US dollar in March, so far, is likely to rebound in April, largely on the back of foreign inflows ahead of India’s government bond inclusion into JP Morgan’s Government Bond Index-Emerging Markets (GBI-EM), set to begin at the end of June 2024.
By the close of April, the local currently is projected to hover around the 83 per dollar mark, according to a Business Standard poll of nine respondents.
“In the near term, dollar strength could persist with the risk of Federal Reserve rate cut getting delayed if core inflation in the US
First Published: Mar 25 2024 | 8:51 PM IST