Anna 
The Indian Rupee (INR) is currently trading on a weaker note on Tuesday, despite the decline of the US dollar (USD). Despite the softer Greenback and a decrease in crude oil prices, which might typically boost the Indian Rupee, the currency faces resistance due to concerns about possible intervention from the Reserve Bank of India (RBI) to prevent a significant appreciation of the INR.
On Monday, the INR reached an over six-month intraday high of 82.65, but the rally was limited amid speculation about potential RBI intervention.
India’s headline retail inflation is expected to drop to 5.02% in February from 5.10% in January, keeping it within the RBI’s tolerance range of 2-6% for the sixth consecutive month. Despite this, economists anticipate that the Indian central bank will maintain its current monetary policy at its April meeting, given the robust domestic economy and inflation persisting above its 4% target.
Investors will closely monitor the release of India’s and the US Consumer Price Index (CPI) inflation data for February on Tuesday. Additionally, later this week, the Wholesale Price Index (WPI) of Food, Fuel, and Inflation for India will be published on Wednesday, while US Retail Sales data is scheduled for release on Thursday.
