RBI advances NRI swap deadline, rupee opens weaker at 95.67
Business
The Indian rupee opened a bit weaker at 95.67 per US dollar on August 18, mostly because rising oil prices and US bond yields, both factors that tend to pressure the rupee.
The RBI also moved up the deadline for its swap facility on NRI deposits, which added to the currency's slide.
Exporters may sell amid Asian gains
Exporters might sell if the rupee hits 95.75 to 95.80, while importers could buy when it dips, so expect some back-and-forth in the coming days.
Meanwhile, traders are keeping an eye on possible monetary policy changes as Middle East tensions continue.
Interestingly, most Asian currencies actually gained against the US dollar today; South Korea's won and Indonesia's rupiah led the pack, while only the Philippine peso slipped a bit.