Rupee Declines Weekly, Capped Near 96 vs USD

Economic Times Markets · stocks

The Indian rupee experienced a weekly decline, influenced by anticipated higher global interest rates and oil price fluctuations. Traders expect losses to be limited around 96 per dollar, with the Reserve Bank of India actively intervening to defend this level. Central banks globally, including the US Federal Reserve and Bank of Japan, have raised rates, impacting emerging market currencies. Despite these pressures, foreign portfolio inflows and a modest daily gain saw the.