Ella 
The Indian rupee (INR) was flat on Thursday amid slight losses in the US dollar. While India’s inflation expectations are likely to stabilize and decline, inflationary pressures in grains and proteins are still likely to re-emerge, according to the Reserve Bank of India’s February announcement. Retail inflation fell to a three-month low of 5.1% in January from 5.69% in December. The Reserve Bank of India (RBI) kept interest rates and policy stance unchanged while reaffirming its commitment to achieve the 4% inflation target on a sustainable basis.
Meanwhile, a rise in oil prices on concerns about attacks on ships in the Red Sea and growing expectations that U.S. interest rates will be cut for longer than expected could boost the safe-haven dollar (USD) and limit its exchange rate against Downside for the Indian Rupee (USD/INR).
Investors will get more clues from India’s S&P Global Services Purchasing Managers’ Index and the minutes of the Reserve Bank of India’s Monetary Policy Committee meeting on Thursday. In the United States, the S&P Global Purchasing Managers Index, weekly jobless claims, existing home sales and the Chicago Fed National Activity Index will be released. In addition, the Fed’s Cook, Kashkari, Jefferson and Harker will speak later in the day.
