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Rupee Set to Open Weaker; Forward Curves Signal Further Downside
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Forward markets imply further rupee weakness as policy and regional cues weigh.
Non-deliverable forwards and market commentary point to a weaker open for the rupee as visa fee turmoil and regional currency softness add pressure. Analysts warn that a sustained slide would push up import bills and create policy trade-offs between supporting the currency and preserving macro stability. Market focus is on central bank calm, export resilience and whether foreign institutional selling abates to restore a firmer footing.