On Friday, rupee rose for the third consecutive session against the US dollar ahead of important major central bank policy meetings scheduled this week.
RBI’s monetary policy statement will be released this week and expectation is that the central bank would hold rates unchanged but any hawkish comments could extend gains for the rupee, said Motilal Oswal.
On Friday, data released by RBI showed India’s FX reserves rose marginally by USD 67.7million to USD 405.14billion for the week ended July,20.
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