By Raj Deepak Singh
Rupee gained back some of its strength in the previous week and moved back to 81.50 levels as dollar slipped back to 105.60 levels. Dollar lost its strength after the FOMC meeting minutes showed that most of the officials are in view that the central bank should slow the pace of interest rate increases. Additionally, decline in crude oil prices and rise in risk appetite in the global markets supported rupee. Indian Rupee is likely to appreciate back till 81.00 levels this week as dollar is losing its steam. Further, rupee may gain strength on optimistic global market sentiments and softening of crude oil prices. Dollar is moving south as recent economic data from US were weaker than expected.
Disappointing data from the US fueled expectations among investors that the central bank might not have to tighten monetary policy aggressively. Additionally, FOMC meeting minutes showed that most of the officials…
