Rupee’s potential downfall on 83/USD

INDIA RUPEE Rupee may open near 83/USD; U.S. yields, yuan watched

Following last session’s imprints, the Rupee is analyzed to be at a record low of 83 as of today, varying from the range of 82.98-83.02 per U.S. dollar. The downfall was witnessed highest during the last one and a half hour of the previous trade. High yields in the US front, alongside continuously hiking rates by the Fed are contributors of the Dollar’s win. The only potential solace of the Rupee may be the stagnant 83 level it was lingering upon after tradition trading hours on Wednesday, which the Reserve Bank has been very protective of.

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Vishvasni Chand

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