Rupee Faces Pressure Toward 96 Per Dollar
The Indian rupee is expected to weaken past the 96 per dollar level following a rate hike by the U.S. Federal Reserve. Asian currencies slipped and global borrowing costs rose as central banks grapple with persistent inflation.
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The India rupee is set to open Thursday morning near 96 per dollar after the United States Federal Reserve raised interest rates by 25 basis points. The currency move follows a prior close of 95.9550 amid broad dollar strength.
