Ella 
The Indian rupee opened stronger on Monday.
Positive growth prospects, strong foreign capital inflows and low oil prices provided support for the Indian rupee.
Investors are waiting for the release of the Chicago Fed National Activity Index and the Dallas Fed Manufacturing Business Index on Monday, as well as the speech of Fed official Mary Daly on Monday.
The Indian rupee (INR) strengthened on Monday, despite the strengthening of the US dollar (USD). The market expectations of continued policy reforms in India after the announcement of the results of the Indian general election, continued positive growth prospects and large foreign capital inflows into the Indian market may have triggered the rise of the Indian rupee. In addition, the decline in crude oil prices continued to support the Indian rupee as India is the world’s third largest crude oil consumer.
Nevertheless, stronger-than-expected preliminary US Purchasing Managers’ Index and the US Federal Reserve’s (Fed) cautious attitude may boost USD/INR and boost USD/INR. The Chicago Fed National Activity Index for May and the Dallas Fed Manufacturing Business Index for June will be released on Monday. In addition, Federal Reserve Chair Mary Daly will speak later in the day.
