The Indian rupee is likely to depreciate amid strong dollar, elevated crude prices, uncertainty in equity markets and volatile FII inflows. USDINR is expected to trade within a range of 79.50 and 80.10 on spot in the coming sessions. In the previous session, rupee weakened slightly as the US dollar soared to a new two-decade high on escalating European energy crisis. RBI aims to anchor expectations around the depreciating rupee and will intervene to prevent an overshoot, ensuring the exchange rate reflects fundamentals, said governor Shaktikanta Das on Monday. The local currency has so far depreciated more than 7% against …
