Escalation in global trade protectionist measures, as well as high crude oil prices will continue to exert pressure on the Indian rupee, experts said on Saturday.
However, the Reserve Bank of India (RBI) is expected to intervene in the spot market via public sector banks to somewhat arrest any sharp decline in the rupee’s value beyond the 72 per US dollar-mark.
The apex bank is known to enter the markets via intermediaries to either sell or buy US dollars to keep the rupee in a stable orbit.
Anindya Banerjee, Deputy Vice President for Currency and Interest Rates with Kotak Securities said the Indian rupee is expected to be under pressure as the US dollar could rise after US jobs data “surprised positively”. Read more
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