Rupee and Bonds Face Pressure Ahead of Fed Decision
Indian rupee and government bonds face persistent pressure this week as oil prices stay above $100 a barrel and markets brace for an anticipated Federal Reserve rate hike. High inflation and planned debt sales further challenge local markets.
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India's rupee fell more than 1% last week to close at 95.55 per dollar on Friday, pressured by oil prices staying above $100 a barrel and rising expectations of a United States Federal Reserve rate hike. The currency is expected to hover between 95 and 95.80 this week as markets price in tightening measures.
