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Rupee slips to intra-day low after opening steady
At the interbank foreign exchange market, the rupee opened at 88.63 and then lost ground, touching an intra-day low of 88.74. The modest decline reflects cautious sentiment in currency markets as traders digest global and domestic cues.
What pushed the move
Movements like this are usually shaped by a mix of factors, including:
- Global dollar strength and shifts in US interest rate expectations.
- Foreign portfolio flows—demand or offloading by non-resident investors can affect the rupee.
- Commodity prices, particularly crude oil, which influence India’s import bill and currency pressure.
- Domestic data and policy signals that affect market sentiment and liquidity.
Near-term outlook
Traders are likely to monitor international cues and domestic liquidity measures for direction. The rupee’s activity around the 88.60–88.80 range will be watched closely for signs of trend continuation or a reversal.
For now, the move remains incremental rather than sharp, but persistent global volatility or large capital flows could widen intraday swings.