Rupee Sees Slight Gain Against US Dollar appreciating 0.03% in the inter-bank market. Here’s what you need to know:

Key Points

• The rupee settled at 278.62 against the US dollar, a gain of Re0.08.
• The currency has been stable between 277-279 against the dollar in recent months.
• The International Monetary Fund’s (IMF) approval of a new $7-billion Extended Fund Facility (EFF) has been a positive indicator for the rupee.
• Global markets are waiting for US inflation data and the Federal Reserve’s interest rate decision.

Global Market Update

• The US dollar was steady in early trading, with the yen inching away from one-month highs.
• Investors are bracing for US inflation data and reassessing expectations of a large interest rate cut from the Federal Reserve.
• Oil prices gave up previous gains due to weak Chinese demand and global oil oversupply risks.

What’s Next?

• The US consumer price index report on Wednesday will provide further policy clues.
• The highly anticipated televised US Presidential debate on Tuesday could impact the November election.
• The US Coast Guard has ordered the closure of all operations at Brownsville and other small Texas ports due to Tropical Storm Francine.