Ella 
The Indian rupee (INR) strengthened on Monday. The rupee was supported by the dollar coming under pressure as U.S. President Donald Trump administration’s trade policies stoked concerns about slowing U.S. economic growth. However, the local currency’s upside is likely to be limited given the rise in crude oil prices. It is worth noting that India is the world’s third largest oil consumer and higher crude oil prices tend to have a negative impact on the value of the Indian rupee.
Looking ahead, India’s wholesale price index (WPI) inflation for February will be released later on Monday. In the U.S., February retail sales data will provide clues on U.S. consumer confidence and whether policy uncertainty has led to a slowdown in spending. Investors will be closely watching the U.S. Federal Reserve’s (Fed) interest rate decision on Wednesday, which is expected to keep rates unchanged. The main focus will be on the Fed’s policy guidance.
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