Ella 
The Indian rupee (INR) weakened on Friday as investors turned cautious. Still, falling crude oil prices and foreign capital inflows are likely to limit the rupee’s losses. The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting began on Wednesday and its Governor Shaktikanta Das will announce the fifth monetary policy for the financial year 2023-24 on Friday. Amid strong macroeconomic fundamentals and resilient domestic markets, the central bank is expected to maintain its hawkish policy stance and keep its benchmark policy rate unchanged at 6.50%.
Investors await the Reserve Bank of India’s interest rate decision on Friday. Investors’ attention will turn to U.S. employment data, including nonfarm payrolls (NFP) and the unemployment rate. Meanwhile, dollar demand and risk aversion in global markets are likely to boost the USD/INR pair in the short term.
