The US Dollar Indian Rupee (USD/INR) exchange rate trades +0.3% higher on Tuesday at 73.60.
Indian retail inflation rose 6.69% YoY in August, 0.04% lower than in July and also short of economists’ expectations. However, it was above the Reserve Bank of India’s 6% upper bound for a fifth straight month.
The US Dollar is trending higher versus the Rupee but lower versus its major peers amid a strong risk on mood in the market. Vaccine optimism, a strong equities market amid deal making on Wall Street and upbeat Chinese data have contributed to rising risk appetite.
FOMC draws into focus.