Ella 
The Indian rupee (INR) was actively trading on Wednesday. Upbeat Indian retail inflation data for February provided some support to the local currency and dragged the USD/INR exchange rate lower. Sustained foreign capital inflows in the domestic stock market also provided support to the Indian rupee’s recovery. However, recovering importer demand for the dollar, risk aversion and potential intervention by the Reserve Bank of India (RBI) may limit the upside for the Indian rupee.
Looking ahead, investors will be watching India’s Wholesale Price Index (WPI) for food, fuel and inflation on Thursday. In the United States, U.S. retail sales will be in focus later Thursday. Retail sales are expected to increase to 0.8% monthly in February from a 0.8% decline in January.
