The Indian rupee last traded at 81.65 per US dollar, down from 81.2975 in the previous session. The local unit oscillated in an 81.46 to 81.67 range, largely influenced by the dollar index and the Chinese yuan
India’s current account deficit is closing in on its de facto red mark of 3% of GDP. But strong economic fundamentals and a healthy economic outlook for this year could keep it safe from a repeat of past crises.
The dollar surged this month against its peers in developed and emerging nations as persistently high inflation in the US bolstered bets for more aggressive Fed rate hikes