MUMBAI (Reuters) – The Indian rupee’s direction this week is likely to be determined by whether the country’s central bank steps in to cap depreciation after the currency fell to a historical low on Friday, while bond yields will track U.S Treasuries.
The rupee slumped to a record low of 83.43 in the closing minutes of the session on Friday before ending at 83.4250 against the U.S. dollar. It notched a decline of 0.7% for the week, its sharpest weekly fall in more than seven months.
Indian markets were shut on Monday for a local holiday.
In the offshore non-deliverable market, the rupee extended the decline further, with…
Read More…
Rupee likely to lean on RBI help; bond yields to track US Treasuries – 2024-03-25
