Reversing direction, the Indian rupee firmed against the U.S. dollar in late morning deals on Monday.
Expectations of an interest rate cut by the RBI in its policy review on 19th underpinned sentiment.
The rupee climbed to an 11-day high of 54.205 against the greenback, recovering from an early low of 54.485. If the rupee extends gain, it may break 54.00 level. The pair closed deals at 54.3505 last week.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.