Indian Rupee: Expected To Stay Cautious Ahead Of RBI

7 Dec 2022 , 08:35 AM

The Indian rupee is expected to stay cautious in opening trades on Wednesday, ahead of the crucial RBI monetary policy announcement later today. Meanwhile, tepid Asian equities tracking a lower end at Wall Street is also likely to keep rupee sentiments under stress. A strengthening dollar may also weigh on sentiment as investors await the outcome of next weeks Federal Reserve meeting. On Tuesday, rupee plunged sharply under Rs 82/$ mark. Rupee declined by 76 paise to close at 82.61 against the US dollar. At the interbank foreign exchange market, the local unit opened weak at 81.94, then slipped further to end at 82.61, registering a fall of 76 paise. During the day, the local unit witnessed an intraday high of 81.94 and a low of 82.63.Powered by Commodity Insights