New Delhi: The increasing fund outflows, along with an expected surge in the US lending rates and high crude oil prices are expected to pressurise the Indian rupee in the coming week. Experts have said the continuous outflow of foreign funds from the equity segment and global market volatility are likely to push the rupee to breach the 75-mark against dollar.
In the week gone by, the Indian rupee recorded a historic low of 74 to a US dollar. It settled at a record closing low of 73.77 (73.7675) per US dollar on Friday.
Rising crude oil prices and the strength in the dollar index might keep the rupee under pressure. The domestic currency is expected to be within the 73.20 to 74.80 range in the next few days.
Besides, any further outflow of foreign funds from the Indian equity and bond markets outflow of foreign funds from the Indian equity and bond markets might have an adverse impact on the rupee.
However, RBI interventions might somewhat hold the sharp decline in the value of the domestic currency, which has been worst hit this year- registering a 13% depreciation since January this year.
Also Read: Rupee Dwindles To Historic Low Of 73.82 Against Dollar
Kalinga AI