Indian Rupee: Expected To Rebound Amid Improving Risk Sentiment

8 Sep 2022 , 09:21 AM

Improving risk appetite globally is expected to cheer the Indian rupee in opening trades on Thursday, September 8, 2022. Positive equities and sharp pull back in oil prices are also likely to support the domestic unit although dollar attempting recovery could add some pressure on the unit. The dollar index that measures the greenback against a basket of currencies is marginally lower at 109.77 while 10 year Treasury note is at 3.2%.On Wednesday, rupee declined by 7 paise to close at 79.89 against the US dollar. At the interbank foreign exchange market, the domestic currency opened at 79.93 per dollar. It hovered in a range of 79.84 to 79.94 during the session. The domestic unit finally settled at 79.89, down 7 paise over its previous close of 79.82. Powered by Commodity Insights