The Indian Rupee remains steady near a record low in Thursday's Asian session.
Equity outflows and persistent strength in the USD drag the INR lower.
Investors await India’s October WPI Inflation on Thursday ahead of the US PPI data release.
The Indian Rupee (INR) holds steady near its all-time low on Thursday. The continued withdrawal of foreign funds, sluggishness in domestic stock markets, and a rally in the US Dollar Index (DXY) exert some selling pressure on the local currency.
Nonetheless, lower crude oil prices and the routine interventions by the Reserve Bank of India (RBI) might help limit the INR's losses and keep volatility muted in the near term. Later on Thursday, investors will monitor India’s Wholesale Price Index (WPI) Inflation for October. On the US docket, the Producer Price Index (PPI) for October, weekly Initial Jobless Claims and Fedspeak will be the highlights later in the day.
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