According to Sodhani, the longer-term direction of the currency will continue to be shaped by oil prices, global monetary conditions, geopolitical factors, and India’s broader macroeconomic performance. “For USDINR broader range to remain between 89.60-91.40 levels. The clouds of a break of 92.00 levels now stay a bit distant,” Sodhani said.
Anuj Gupta, a market expert, believes that further appreciation of the Indian currency is expected in the near term. “Further appreciation is expected, as rising exports could boost demand for the rupee, with the currency likely to test the 89.50–89.00 levels in the near term,” he explained.
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