Ella 
USD/INR is trading lower on Tuesday. However, the Indian rupee may strengthen on expected foreign fund inflows, as Indian stock markets are likely to follow a rally in Asian equities and traders react to a record close on Wall Street.
USD/INR is likely to weaken on lower oil prices, as India is the world’s third-largest oil importer and petroleum accounts for a large portion of the country’s import bill. Some media reported that Israel preferred to avoid targeting Iranian oil facilities, which eased market concerns about potential crude oil supply disruptions and put crude oil prices under downward pressure.
The Indian rupee came under downward pressure on Monday as foreign institutional investors sold a total of 3,732 crore rupees ($444 million) on a net basis, marking their eleventh straight session of net selling of equities. In this environment, domestic investors purchased shares worth a net Rs 2,278 crore, according to a Reuters report.
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