Indian Rupee Opens Near Record Lows
The Indian rupee is expected to open slightly weaker against the dollar on Monday as traders monitor elevated oil prices and foreign portfolio flows linked to a major domestic IPO. Analysts note that central bank interventions and robust foreign exchange reserves should help limit further currency depreciation.
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The India rupee is poised to open in the 95.90-95.95 band on Monday morning, slipping from its 95.8725 close on Friday. Traders are weighing crude supply risks against expected capital inflows from a major domestic IPO.
