Rupee volatility is flat this week, and a slight downward trend may continue

The Indian rupee closed basically flat against the US dollar, up 0.2% this week after volatile trading. The exchange rate hit a two-week high of 87.72 at one point, before falling back as U.S. dollar and U.S. Treasury yields (despite the Fed's interest rate cut). A state-owned bank trader pointed out that the rupee exchange rate may fluctuate in the range of 87.50-88.50 and tend to depreciate due to concerns about U.S. tariffs and foreign capital inflows. Indian stocks closed up 0.8% this week, with 10-year Treasury yields rising 3 basis points.