Rupee Set to Open Lower on Rising US Yields
The Indian rupee is expected to open mildly weaker due to rising US Treasury yields and dollar strength. The Reserve Bank of India is anticipated to act as a buffer against further declines while external pressures persist.
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Xurve View
The India rupee is set to open weaker in the 96.32 to 96.34 range on Tuesday morning, pressured by rising United States Treasury yields. This follows Monday's close of 96.2925 per dollar, bringing the currency about 0.6% away from its record low of 96.96 reached in May. Investors are watching foreign outflows and elevated oil prices as persistent dollar demand tests central bank intervention limits.
