The Indian rupee is likely to depreciate further as the dollar would continue to remain strong. Elevated crude prices, interest rate hike fears, recession concerns are also expected to weigh on the domestic currency. USDINR spot price is expected to trade in a range of Rs 79 to Rs 80.50 in next couple of sessions, according to analysts. In the previous session, rupee declined against the US dollar tracking a strong dollar in overseas markets and losses in the domestic equities. At the interbank foreign exchange market, the local unit opened at 79.93 per dollar, and settled at 79.89, down …
