The Indian rupee is expected to depreciate against the US Dollar, taking cues from weak regional peers, risk aversion in markets, dollar hitting two-decade high. USDINR(Spot) is expected to trade sideways and quote in the range of 79.40 and 79.80In the previous session, rupee weakened as a surging dollar pinned down major currencies. Hawkish stance from central banks and a lockdown in China further dampened investor nerves. The local unit slipped 4 paise to close at 79.56 against the greenback. Weakening oil prices and exporters selling dollars shielded the domestic currency from a selloff in global risk assets. Dilip Parmar, …
