Rupee faces resistance after surprise recovery
The Indian rupee is expected to open flat after a surprise recovery driven by heavy dollar selling late last week. However, weak Asian peers and falling global risk sentiment threaten to halt further gains for the local currency.
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India's currency faces renewed pressure after a surprise recovery, weighed down by weak Asian peers and declining regional sentiment. The local currency is expected to open largely flat at 94.94 to 94.98 against the United States dollar on Monday. Friday's late rebound was driven by heavy dollar selling from a major foreign bank, bucking broader downward trends.
