Rupee to Open Higher as Oil Prices Pull Back
The rupee is set to open near 94.87 against the dollar following a drop in Brent crude to 105.50 dollars. Persistent equity outflows keep the outlook bearish.
Xurve View
Insights:
Xurve View
The India rupee is expected to open at 94.86 to 94.88 per USD on Monday morning as oil prices retreat. The currency hit a record low of 95.33 on Thursday evening before settling at 94.91. Falling energy costs may provide temporary relief, but persistent capital outflows of $20.6B this year maintain bearish pressure.
