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Rising US yields, oil headwinds put RBI's Indian rupee 96 buffer to the test
MUMBAI: The Indian rupee is expected to come under pressure at Tuesday’s open, weighed down by higher US yields and oil prices, putting it at risk of slipping past the 96-a-dollar mark, seen as a key near-term support level. The Indian rupee is expected to open in the 95.99-96.02 range, per traders, after settling at 95.9825 per dollar on Monday. India’s central bank may be reluctant to see the rupee break past the psychologically important 96-per-dollar mark and could intensify its intervention, having been a near-daily presence in the market in recent weeks, market participants said. A...
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