The Indian rupee rose to 83.6250 against the USD, mirroring gains in Asian currencies like the Korean won. Focus is on Modi’s budget at 11:00 a.m., targeting a 5.1% fiscal deficit. The rupee hit a record low due to local importers’ dollar demand. The dollar index is at 104.2, forward premiums 1.74%. Pabari expects stabilization within 83.40-83.70 range.
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