The US Dollar Indian Rupee (USD/INR) exchange rate is trending lower again on Friday, trading at 73.29 an almost 6 month high.
The Indian Rupee is soaring thanks to a surge in demand for India equities. As foreign investors pile into the Indian stock market US inflows are surging. The RBI are not intervening.
The Fed made significant changes to its policy framework which were announced in the previous session. By adopting a more relaxed approach to inflation interest rates are expected to remain lower for longer. The is dragging on the US Dollar whilst also boosting risk sentiment across global financial markets.