The USD/INR currency pair is experiencing upward momentum as it trades near the 88.80 mark, reflecting selling pressure on the Indian Rupee (INR) against the US Dollar (USD) on Wednesday. This movement comes ahead of the anticipated release of India's Consumer Price Index (CPI) data for October, scheduled for 10:30 GMT, which is likely to impact market sentiment.
Traders are closely monitoring the upcoming CPI figures, as higher inflation could lead to expectations of tighter monetary policy from the Reserve Bank of India. As the USD strengthens, the implications for the INR could be significant, potentially widening the exchange rate further if inflation exceeds forecasts. The market remains cautious, with participants positioning themselves ahead of the crucial data release.
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Data Source: Yongxianli Analysis Team Updated: 2025-11-12 06:53
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.