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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

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