The Indian rupee rose slightly against the dollar on Tuesday, reaching its highest level in a week. This was driven by the rise in Asian currencies and expectations that the U.S. Federal Reserve will cut interest rates.
The rupee climbed to 88.05 and was holding around 88.08 at the end of trading. China’s yuan also neared its highest level in the past 10 months.
Experts say the Federal Reserve’s decisions may put pressure on the dollar. However, if importers increase demand for dollars, the rupee’s rise could be limited.
Trade talks between India and the United States are scheduled to begin today. The meeting could pave the way for agreements on tariffs.
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