FTSE Russell s will announce today its decision on India s inclusion in the emerging markets government bond index. The inclusion can drive the rupee towards 82.90 to 83, analysts have said
JPMorgan s recent decision to add India to its emerging market debt index is a major development expected to draw billions of dollars in investments, helping India address its current account and fiscal deficits.
The Indian rupee opened flat against the US dollar ahead of the key US inflation data and ECB monetary policy meeting, which is due later on September 13.
Analysts said apart from RBI intervention, the Reserve Bank of India s (RBI) discontinued incremental Cash Reserve Ratio in a phased manner by October 7 also boosted sentiments