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Rupee set for a rebound on RBI curbs, but depreciation pressure persists
Source: Livemint — Markets · 1 day ago
Summary
The RBI’s latest steps to provide dollars straight to state oil firms and limit speculative currency trading are expected to boost the rupee in the short term. However, analysts warn that ongoing high oil prices, capital outflows and a weak external balance will keep pressure on the currency.
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From the original report
The RBI’s new measures to supply dollars directly to state-run oil companies and curb speculative currency trades are expected to lift the rupee in the near term. Experts caution that high oil prices, capital outflows and weak external balances will continue to weigh on the currency.
Excerpt from Livemint — Markets.
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