💨 Abstract

The Indian rupee is expected to remain near a lifetime low on Friday due to foreign capital outflows from domestic equities and rising oil prices caused by Middle East conflict. The dollar/rupee pair is predicted to open just shy of its previous record low, despite high oil prices, a strong dollar, and heavy foreign equity selling. The Reserve Bank of India's recent actions have reduced the rupee's reaction to news flow, particularly at critical levels.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖