Indian Rupee Weakens Amid Equity Rout and Oil Price Rise
The Indian rupee is expected to open lower near 95.20 per dollar as a global equity selloff and rising Brent crude prices blunt recent gains. While RBI measures to boost dollar inflows initially spurred a rally, regional market volatility and fading hopes for a U.S.-Iran peace deal are weighing on sentiment.
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The India rupee is expected to weaken at the Monday morning open between 95.20 and 95.30 per USD following an Asian equity selloff. The decline follows a 0.88% rally on Friday to 94.9450, the largest single-day gain for the currency in two months. Investors are weighing central bank intervention against rising geopolitical risks and a shift in global risk appetite.
