Mumbai, Nov 12
The movement in the dollar and progress in the US‑India trade negotiations will determine the Indian rupee’s direction in November, a report said on Wednesday, adding that rupee will trade in the range of 88.5–89 per dollar till month end.
Any positive development on the US-India trade deal is likely to lift investor sentiments, the bank said, adding that concerns about higher US tariffs’ impact on the domestic economy are weighing on foreign portfolio investor (FPI) flows.
The rupee traded in the range between 87.83 per dollar and 88.70 per dollar over the last month, with average annualised volatility falling from over 4 per cent in October to 1.2 per cent in November, the report noted