The Indian rupee closed almost flat on Tuesday. Traders refrained from new bets against the currency. Expectations of upcoming inflows and Reserve Bank of India interventions provided support. The rupee hovered near its recent record low. IPO-related inflows this week may offer some relief. The RBI appears to have established a floor for the rupee around 88.80.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets