Fed is about to start cutting interest rates, rupee recovery accelerates

The Indian rupee is expected to continue its rebound momentum for the fourth consecutive trading day, and the market is waiting for the Federal Reserve's policy decision. The market generally expects the Fed to cut interest rates by 25 basis points, and traders are closing bearish rupee positions. The Indian rupee is expected to open between 87.86-87.90, hitting an all-time low of 88.4550 last week. Whether it can continue to break through 88.00 is still uncertain, and 87.80 is regarded as the key support level.