The dollar index rose on Wednesday toward the one-year high touched last week as surging energy prices - ICICI Direct
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Rupee Outlook and Strategy
• Rupee future maturing on October 27 depreciated by 0.68% in Wednesday’s trading session due to an uptick in dollar index and higher crude prices
• The dollar index rose on Wednesday toward the one-year high touched last week as surging energy prices fuelled concerns about inflation and interest rate hikes, knocking investors' appetite for riskier assets and driving flows to safe-havens
• Rising inflationary pressures could pose headwinds to growth and have implications for how soon the Federal reserve can raise interest rates
• The rupee is expected to depreciate further as stronger dollar amid tapering fears from US Fed may put more pressure on the rupee, going forward
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