The Economic Times

Rupee logs weekly decline; traders expect losses to be capped near 96 against USD

The Indian rupee witnessed a downturn this week, driven by expectations of rising global interest rates. Following fluctuations, oil prices stabilized amid ongoing tensions in the Middle East. Analysts project that central bank interventions will prevent the rupee from falling below 96 per dollar. Meanwhile, Asian currencies displayed varied performance, and regional stock markets enjoyed a modest uptick, bolstered by foreign portfolio investments supporting the rupee's stability.