Soaring dollar puts all-time low in peril; traders eye RBI defence
The Indian rupee may inch towards record low at the open on Wednesday, bogged down by the dollar index's rally to a six-week high and weakness in Asia, prompting bets on another round of central bank intervention. The 1-month non-deliverable forward indicated the rupee will open in the 88.78-88.82 range versus the US dollar, compared with Tuesday's close of 88.7725.