• The Indian Rupee edges lower in Tuesday’s Asian session. 
• Sustained outflows from local equities weigh on the INR. 
• Investors will monitor India’s October Consumer Price Index (CPI) and Fedspeak on Tuesday.

The Indian Rupee (INR) remains weak near an all-time low on Tuesday. The downward pressure for the local currency is pressured by persistent foreign fund outflows and a muted trend in domestic equities. Additionally, the renewed US Dollar (USD) demand from oil companies and foreign banks contributes to the INR’s downside. 

Nonetheless, the significant depreciation of the INR might be capped by the decline in crude oil prices and the likely foreign exchange intervention by the Reserve Bank of India (RBI). Looking ahead, traders brace for India’s October Consumer Price Index (CPI), which is due on Tuesday. On the US front, the Federal Reserve’s (Fed) Christopher Waller, Thomas Barkin, Neel Kashkari and Patrick Harker are scheduled to speak later in the day. On Wednesday, the attention will shift to the US October CPI inflation data.