Ella 
The Indian rupee (INR) edged lower on Monday amid demand for U.S. dollars from oil companies and other importers. Hawkish comments from Fed officials about keeping policy rates higher for longer could limit the rupee’s sharp gains. However, potential intervention by the Reserve Bank of India (RBI) may curb excess volatility in the Indian rupee.
According to the minutes of the Reserve Bank of India’s latest policy meeting, the Monetary Policy Committee unanimously concluded that the Indian economy is currently showing resilience in terms of growth. However, uncertainty, food inflation volatility and geopolitical spillovers may limit the upside for the Indian rupee.
Investors are awaiting U.S. fourth-quarter annual gross domestic product (GDP) data on Wednesday and core personal consumption expenditures (Core PCE) price index on Thursday. In India, annual GDP growth and federal fiscal deficit will be released on Thursday. India’s S&P Global Manufacturing Purchasing Managers’ Index for February will be released on Friday.
