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Rupee Outlook and Strategy

* Rupee future maturing on October 27 depreciated by 0.08% in Thursday’s trading session on higher crude prices and correction in domestic equities

* The dollar index slipped slightly from a one-year high on Thursday in choppy trading, pressurised a little bit by a rise in US weekly jobless claims and as investors consolidated gains after a steep rise in the last few sessions

* Overall, the greenback has been supported by a spike in US Treasury yields amid expectations the Federal Reserve will taper its monetary stimulus beginning in November even as global growth slows

* The rupee is expected to depreciate further as rising crude prices along with correction in domestic equities may put more pressure on the rupee, going forward 

Dollar Index vs US$INR

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