Rupee’s direction guided by Fed outlook, RBI at start of 2024

A man counts Indian currency notes inside a shop in Mumbai

MUMBAI, Jan 1 (Reuters) – The Indian rupee will open little changed on Monday, with the U.S. Federal Reserve interest rate outlook and the Reserve Bank of India’s forex strategy expected to be the key to begin the New Year.

Non-deliverable forwards indicate the rupee will open nearly unchanged from 83.2075 on Friday. Other Asian markets were off.

“The most important things I can think of to begin the year are the Fed and RBI,” an FX trader at a bank said.

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