• Indian Rupee holds positive ground in Monday’s Asian session. 
• Firmer USD, foreign outflows and higher crude oil prices might undermine the INR.
• Traders await the Fedspeak later on Monday.

The Indian Rupee (INR) recovers some lost ground on Monday. The stronger US Dollar (USD), heightened fund outflows from local equities and the rise in crude oil prices might weigh on the local currency. 

Traders will keep an eye on Fedspeak later on Monday for fresh impetus. Any dovish comments from US Federal Reserve (Fed) officials might drag the Greenback lower and support the INR. On Wednesday, the Reserve Bank of India (RBI) interest rate decision will be in the spotlight. The Indian central bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation remains elevated.