USD/INR trades flat on RBI’s potential intervention

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• Indian Rupee struggles to gain despite RBI’s intervention limiting the losses.
• India’s economy is estimated to grow 6.5% in this fiscal year.
• Investors will monitor the preliminary US Consumer Sentiment data for November.

Indian Rupee (INR) trades flat on Friday despite the potential intervention from the Reserve Bank of India (RBI) limiting the depreciation in the local currency. In an interview with Nikkei Asia on Thursday, RBI Governor Shaktikanta Das said that geopolitical tensions across the globe have generated economic fragmentation that applies brakes and barriers to growth and supply chains, but he’s confident that India can rise amid the uncertainty.