Indian Rupee faces pressure ahead of Fed rate hike
The Indian rupee remains under pressure and risks slipping past the 96 mark against the dollar as rising oil prices compound strain. Markets await a widely expected Federal Reserve rate hike and updated economic projections later today.
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The Indian rupee fell to 95.9550 per dollar Tuesday, sliding toward the 96 threshold under pressure from central bank intervention and high oil prices. India's currency has dropped for seven consecutive sessions, shedding 1.5% over the period.
