Rupee Slides on Week as Traders Watch 96 Level
The Indian rupee recorded a weekly decline on global rate hike pressures. Traders expect central bank intervention to limit losses near the 96 per dollar mark.
Xurve View
Insights:
Xurve View
The India rupee fell 0.3% on-week to close at 95.8750 per dollar on Friday afternoon, pressured by global monetary tightening. Central bank defense kept losses in check near the key 96 psychological threshold. Global monetary tightening continues to weigh on emerging market assets.
