MUMBAI, Sept 29 (Reuters) – The Indian rupee, under persistent pressure in recent sessions, is expected to find relief at Monday’s open, lifted by a broad rally in Asian peers.
The 1-month non-deliverable forward indicated the rupee will open in the 88.62-88.64 range versus the U.S. dollar, compared with 88.7175 in the previous session.
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The Indian currency shed 0.7% last week, sinking to an all-time low of 88.7975, with the U.S. H1-B visa fee increase adding to bearishness. Without the Reserve Bank of India’s likely support, the fall could have been worse, bankers said.
Struggling rupee set for reprieve on rise in Asia FX after US inflation data
