India’s Rupee Expected to Open Near 95 per Dollar as Oil Prices Weigh

The Indian rupee is expected to open at 95.00–95.04 per U.S. dollar on Monday, compared with Friday’s close of 94.94, traders told Reuters.

High oil prices and the expected fading of inflows linked to the Jio Platforms IPO are weighing on the currency.

Traders are also watching for intervention by the Reserve Bank of India.