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Indian rupee to weaken as oil, US yields weigh; fading Fed hike bets offer no relief
MUMBAI: The Indian rupee is poised to drop on Thursday, with higher oil prices and US Treasury yields piling pressure on the currency while fading October Federal Reserve rate hike bets offer little relief. The Indian rupee is expected to open in the 95.96 to 95.98 range, per traders, having settled at 95.83 to the dollar on Wednesday. The Indian rupee has pared losses from around 96.14 per dollar, which it hit on Tuesday, aided by likely Reserve Bank of India intervention, with traders saying the central bank appears intent on preventing a sustained break past the 96 level. “Overall, th...
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