Indian Rupee remains weak due to USD demand. India’s finance minister is monitoring the exchange rate after the decline of the Indian Rupee. The Gross Domestic Product (GDP) Quarterly for Q2 in India will be in focus this week. The Rupee lost ground on Tuesday amid USD demand from state-run and foreign banks. The finance minister highlighted challenges to the economy from external factors and exchange rate fluctuations. Investors are also keeping an eye on India’s fiscal deficit data, RBI monetary and credit information review, and infrastructure output. India’s GDP is expected to have slowed to 6.8% in the July-September quarter from 7.8% in the previous quarter. Capital spending in India was 4.91 trillion Rupees in the first six months of the fiscal year, up from 3.43 trillion Rupees in the same time the previous year. The Indian stock market is expected to hit new highs in the next six months. The table below reflects the percentage change of the US Dollar (USD) against major currencies in the last 7 days. Inflation and Consumer Price Index (CPI) measure the change in prices of goods and services over a period of time. Core CPI is the figure targeted by central banks. Significant changes in inflation can impact the value of currency.
