The Indian rupee's upward surge encounters some obstacles. As the Reserve Bank of India gradually dissolves a hefty foreign exchange forward book, banks are also preparing for interest payments on foreign currency holdings. These maneuvers are likely to soak up dollar inflows, which could limit the rupee's rise. Analysts predict a cautious outlook for the currency's future gains.
The Indian rupee's upward momentum faces challenges despite oil relief. The Reserve Bank of India's unwinding of its foreign exchange forward book and banks' preparations for interest payments on foreign currency holdings are absorbing dollar inflows. These actions are expected…
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