Rupee Faces Oil Pressure as RBI Defense Limits Losses
The Indian rupee faces downward pressure on Friday due to rising oil prices and corporate hedging demand. However, continuous interventions by the Reserve Bank of India and a weaker US dollar are expected to cushion the currency and restrict losses within a narrow range.
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The India rupee is expected to open in the 95.74–95.78 range on Friday morning, pressured by rising crude oil prices and importer hedging demand. This follows a close of 95.7050 against the dollar on Thursday amid a narrow 30-paisa weekly trading range. Central bank intervention and a softer dollar continue to cushion the local currency against steeper declines.
