The rupee’s recent decline against the US dollar might be due to strategic moves by the Reserve Bank of India to boost export competitiveness. The RBI is believed to have intervened to address the rupee’s overvaluation, reflected in a high REER. The interventions appear to have reduced the REER, making Indian exports more competitive.
Dharmesh Shah sees strong support at 25,500–25,700; expects Nifty to rebound towards 26,100 soon
Indian markets saw pressure with Nifty dipping below key support. Analysts believe this is a healthy correction within a bull trend. Nifty is expected to