Indian Rupee Strengthens Amid Anticipation of Federal Reserve Rate Cuts

Investors await Jerome Powell's remarks, with potential implications for future rate adjustments and currency performance.

The rupee closed at 83.89 against the US dollar, showing slight improvement from the previous session.
Most Asian currencies also saw gains, contributing to the rupee's positive movement.
Federal Reserve Chair Jerome Powell's upcoming comments are expected to clarify the extent of anticipated rate cuts.
High demand for the dollar by local importers and outflows from Indian equities have limited the rupee's gains.
Overseas investors have withdrawn $2.1 billion from Indian stocks in August, affecting market dynamics.