Anna 
On Wednesday, the Indian Rupee (INR) continued its recovery despite renewed demand for the US Dollar (USD). The rebound from its record low levels is attributed to likely intervention from the Reserve Bank of India (RBI), aimed at curbing sharp swings in the INR.
India’s robust economic performance amidst a backdrop of a slowing global economy and geopolitical challenges is noteworthy. The Ministry of Finance’s monthly economic review report indicates that foreign portfolio investors turned net buyers in February, and Foreign Direct Investment (FDI) inflows are expected to accelerate. This positive outlook for the Indian economy could bolster the INR and constrain the upside of the USD/INR pair.
Investors’ focus remains on the upcoming release of the US Gross Domestic Product Annualized (Q4) on Thursday, with forecasts indicating a steady growth rate of 3.2%. Additionally, market participants will closely monitor the US February Personal Consumption Expenditures Price Index (PCE) data on Friday, although trading will be closed on that day for Good Friday.
