Rupee at risk of all-time low, leans on central bank for support
The India rupee is poised to open weaker on Friday, with the imbalance between robust importer hedging and hesitant exporter flows making it vulnerable to a lifetime low and dependent on central bank support. The 1-month non-deliverable forward indicated the rupee will open in the 89.40-89.42 range versus the US dollar, having settled at 89.3050 on Thursday.