The Indian rupee is expected to remain under pressure and may test new levels, falling to 81 against US dollar, in near-term amid US Federal interest rate hikes fears. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US which could accelerate the pace of capital outflows, weaken the rupee, according to experts. In the previous session, rupee rebounded by 39 paise to close at a nearly two-week high against the US dollar, supported by foreign fund inflows and a correction in crude oil prices. At the interbank forex market, the local unit …
