Ella 
The Indian rupee (INR) extended its rebound on Wednesday despite recovering demand for the US dollar (USD). Possible intervention by the Reserve Bank of India (RBI) to curb sharp swings in the Indian rupee has provided support for the rupee’s rebound from all-time lows.
India’s strong economic performance stands out against the backdrop of a global economic slowdown and geopolitical headwinds. Foreign direct investment (FDI) inflows are expected to accelerate as foreign portfolio investors turned net buyers in February, India’s finance ministry’s monthly economic review showed. A positive Indian economic outlook is likely to boost the Indian rupee and limit the upside for USD/INR.
Annualized U.S. gross domestic product (fourth quarter) will be released on Thursday. Growth is expected to hold steady at 3.2%. Investors will pay close attention to U.S. personal consumption expenditures (PCE) price index data for February released on Friday. Markets are closed on Friday for Good Friday.
