The Indian rupee strengthened against the U.S. dollar in the late Asian session on Monday, as traders await the the RBI policy meet tomorrow.
However, most participants expect the central bank to cut rates by at least 25 basis points.
Against the greenback, the rupee rose to a 5-day high of 66.0100 from Friday’s closing value of 66.1200.
If the rupee extends its uptrend, it is likely to find resistance around the 65.40 area.
The material has been provided by InstaForex Company – www.instaforex.com