Much depends on what the Fed does with US interest rates, making markets hyper-sensitive to the minutes, due later on Wednesday, of its last meeting
RBI monetary policy updates: Repo rate unchanged at 6.50%; governor Urjit Patel rules out further rate cuts
RBI is known to enter the markets via intermediaries to either sell or buy US dollars to keep the rupee in a stable orbit
Indian currency, the rupee, has been depreciating, had last week breached 71 to a dollar mark.
Gold has lost its appeal as a safe-haven asset amid international trade disputes and the Turkish currency crisis, with investors increasingly turning to the US dollar instead
Federal Reserve policymakers see rate hikes, blurring dove-hawk divide in the face of falling unemployment
The Federal Reserve often walks a delicate tightrope in setting interest rates as it balances its dual mandate of promoting full employment and maintaining stable prices
The BSE Sensex slumped over 407 points to end at one-month low of 34,005.76 and the Nifty ended below 10,500 mark due to widespread sell-off after global rout in stocks returned on worries about rising US interest rates