Rupee Set to Open Higher as Global Currencies Stable

• The Indian rupee is expected to open around ₹85.60–85.62/USD, showing slight improvement, supported by stable Asian currencies.
• Despite U.S. tariffs on copper and other goods, markets showed limited reaction; recent Fed minutes suggest only modest impact from tariffs
• Foreign investors bought $33.2 million in Indian equities and $138.2 million in bonds on July 8, signaling confidence

Why It Matters:

• A stronger rupee can reduce costs for imported equipment in IT and manufacturing sectors—good news for employees in these fields.
• Boosts investor sentiment, potentially leading to job growth in finance, banking, and export-oriented industries.

Source: reuters.com