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India rupee's recovery may find fresh legs from equity flows, dollar weakness
MUMBAI: The Indian rupee’s ongoing recovery will draw support on Wednesday from a revival in equity inflows and a dip in the dollar amid US election results indicating momentum for the Democratic Party. The Indian rupee was likely to open around 94.70, according to traders, after settling at 94.74 on Tuesday. The dollar index slipped 0.3%, while US equity futures and Treasuries fell amid investor positioning for a favourable outcome for the Democratic Party in the midterm elections. Prediction market Kalshi is now pricing in a 100% probability of the Democratic Party taking control of the ...
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