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Indian rupee faces pressure from oil headwinds, lack of inflow support
MUMBAI: The Indian rupee is likely to come under pressure at Monday’s open, potentially slipping below the psychological level of 95, with an oil price overhang compounded by the likely absence of last week’s supportive flows. The Indian rupee is expected to open in the 95.00-95.04 range, per traders, after settling at 94.94 per dollar on Friday. The Indian rupee traded between 94.32 and 94.97 last week, moving toward the firmer side of the range on inflows linked to the Jio Platforms IPO and position unwinding. The allotment is on Monday, with the shares scheduled to list on the bourses...
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