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Indian rupee pressured by US yields, euro-led dollar strength; RBI acts as buffer
MUMBAI: The Indian rupee is expected to open mildly weaker on Tuesday, weighed by a rise in long-dated US Treasury yields and euro-led dollar strength, while traders expect the central bank to continue smoothing the currency’s decline. The Indian rupee is expected to open in the 96.32-96.34 range, per traders, having settled at 96.2925 to the dollar on Monday. It is now about 0.6% from its all-time low of near 96.96 hit in May. The currency has remained under pressure over the past month as the external backdrop has grown increasingly challenging, with elevated oil prices, rising US Trea...
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