The Indian Rupee (INR) remains broadly unchanged against the US Dollar (USD) at around 90.35, despite the Reserve Bank of India’s (RBI) monetary policy announcement, in which it has left the Repo Rate unchanged at 5.25%, as expected.
Silver price (XAG/USD) slumps to around $71.90, the lowest since January 2, during the Asian trading hours on Friday. The white metal extends the decline amid easing geopolitical tensions and profit-taking. Traders will closely monitor the upcoming US-Iran talks later on Friday.
Commerzbank's FX Research report by Tatha Ghose discusses the outlook for the Ruble amidst ongoing geopolitical tensions and sanctions. The report highlights a potential positive scenario if a peace deal between Russia and Ukraine is reached, which could lead to the lifting of some sanctions.