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"Depreciation pressures on INR is expected to be higher in the near term with crude oil prices above $90 and dollar strength," Gaura Sen Gupta, economist at IDFC First Bank wrote in a note.
Experts feel RBI intervention is keeping the rupee low, which also helps exports. The only way to control the fall was to keep increasing the already high interest rates. According to them, several factors such as trade deficit, nature of forex reserves and interest rate differential with the US are behind the currency dynamics.
Mumbai, The rupee depreciated 7 paise to 82.25 against the US dollar in early trade on Monday, tracking a strong American currency and outflow of foreign funds
The US dollar index, which measures the value of the US currency against six major counterparts, hit a fresh 15-month low on Friday, , dollar, rupee fall, us dollar index
The rupee ended at 82.0375 per US dollar, compared with its close of 81.7950 in the previous session, , rupee fall