Mumbai. The impact of the rise in crude oil in the international market and increase in American bond yields is also visible on the Indian rupee. rupee against dollar Psychological level of 96 It has reached very close to Rs, due to which the eyes have been fixed on the strategy of RBI in the currency market.
On Monday, the rupee had closed at 95.9825 per dollar. On Tuesday, it was expected to open in the range of around 95.99 to 96.02. Market experts are keeping an eye on how much RBI intervenes in the foreign exchange market to prevent the rupee from crossing 96.
India is largely dependent on imported crude oil for its energy needs. In such a situation, the rise in oil prices can simultaneously put pressure on the rupee, import bill and inflation. In the coming days, signals related to the global oil market and US interest rates will play an important role in deciding the movement of the rupee.