The Indian Rupee (INR) opened lower against the US Dollar (USD) on Wednesday, with the USD/INR trading near 89.35. This decline reflects the INR's continued struggle amidst strong demand for the USD from Indian importers and in the offshore market. The market is keenly watching the shifting sentiment surrounding the Federal Reserve's dovish outlook, which has broadened expectations for a slower pace of rate hikes.
Despite the potential for dovish moves from the Fed, the INR's underperformance highlights the ongoing pressures on the currency pair. Traders remain cautious as foreign exchange demand continues to bolster the USD, leaving the INR vulnerable in the current trading environment. As the dynamics between the INR and USD evolve, investors will be looking for indicators that might suggest a reversal or further weakness in the exchange rate.
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Data Source: FX Killer Analysis Team Updated: 2025-11-26 05:19
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.