Rupee poised for muted open with RBI support
The Indian rupee is expected to open in a steady range on Monday. Sustained support from the Reserve Bank of India is likely to temper rising oil prices and U.S. Federal Reserve rate hike expectations.
Xurve View
Insights:
Xurve View
The Indian rupee is poised for a muted opening in Monday morning trade, holding in the 94.46-94.50 range against the dollar. Sustained central bank intervention is buffering the currency against rising crude prices and shifting U.S. rate expectations.
