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Indian rupee faces pressure from oil, US yields; RBI deputy flags case for gains
MUMBAI: The Indian rupee is set to encounter headwinds on Thursday from a renewed rise in oil prices and a broadly firmer dollar on account of growing US rate hike expectations, while central bank intervention is expected to limit losses. The Indian rupee is expected to open around 95.85-95.87 per dollar, traders said, down from its close at 95.74 in the previous session. A stronger-than-expected US purchasing managers’ report overnight fanned new price concerns and a poorly received auction of five-year Treasury notes triggered a fresh jump in yields. The 10-year US Treasury yield was up...
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