Rupee future maturing on October 27 depreciated by 0.26% in Tuesday`s trading session - ICICI Direct
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Rupee Outlook and Strategy
• Rupee future maturing on October 27 depreciated by 0.26% in Tuesday’s trading session due to an uptick in dollar index and higher crude prices
• The US dollar index edged back toward a one-year high vs. major peers on Tuesday ahead of a key payrolls report at the end of the week that could boost the case for the Federal Reserve to start tapering stimulus as soon as next month
• The dollar has also benefited from safe-haven demand amid worries ranging from the risk of global stagflation to the US debt ceiling standoff
• The rupee is expected to depreciate further as rising crude prices along with stronger dollar amid tapering fears from US Fed may put more pressure on the rupee, going forward
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