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Indian rupee likely pinned near 95 as RBI defence counters oil headwinds
MUMBAI: The Indian rupee is likely to be under pressure from high oil prices at Monday’s open, with the central bank’s dollar sales expected to support the currency and keep it near what traders perceive to be the central bank’s soft defence line. The Indian rupee is expected to open in a 94.92 to 94.98 range, per traders, having settled at 94.96 to the dollar on Friday. The Indian rupee has oscillated around the 95-per-dollar mark in recent sessions, briefly strengthening past the level before struggling to sustain it. Subsequent declines past that level have repeatedly met resistance. T...
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