USD/INR bounces back as consistent foreign outflows keep Rupee on backfoot

  • The Indian Rupee (INR) resums its downside journey against the US Dollar (USD) on Monday after a positive opening. The USD/INR pair reclaims monthly high near 86.80 as the US Dollar gains after the United States (US) and the European Union (EU) announced that they have reached a trade framework ahead of the August 1 tariff deadline over the weekend to avert a damaging trade war.