The Indian Rupee trades firmer in Thursday's Asian session.
High USD bids for month-end payments and uncertainties surrounding Trump's trade policies undermine the INR.
The RBI intervention might support the INR and cap the pair’s upside.
The Indian Rupee (INR) edges higher on Thursday. The month-end US Dollar (USD) demand from importers weighs on the local currency. Additionally, the speculation over aggressive trade policies under Donald Trump’s presidency and the expectation that the Federal Reserve (Fed) might be cautious about further rate cuts could boost the USD against the INR in the near term.
On the other hand, the Reserve Bank of India (RBI) could step in to sell USD, which might help limit the INR’s losses. The US markets will be closed on Thursday in observance of the Thanksgiving holiday. Traders will keep an eye on the Indian Federal Fiscal Deficit for October and GDP growth data for the July-September 2024 quarter (Q2 FY25), which is set to be released on Friday.
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