Indian Rupee Faces Pressure From Oil and US Yields
The Indian rupee is set to open lower as higher oil prices and surging US Treasury yields challenge the central bank intervention that recently drove a three-day winning streak. Brent crude climbed and US yields hit late-2023 highs amid escalating Middle East tensions.
Xurve View
Insights:
Xurve View
The India rupee is on course to open lower on Wednesday, pressured by a surge in oil prices and rising U.S. Treasury yields. The currency is expected to open in the 95.02-95.06 range against the dollar.
This follows a three-day winning streak driven largely by aggressive intervention from the Reserve Bank of India. The currency touched a two-month high of 94.80 on Tuesday.
