Sensex Rises 50 points, Nifty Above 17,800 Ahead of US Fed Policy Outcome

India’s rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive U.S. Federal Reserve rate-hiking campaign, according to a Reuters poll of FX strategists. Steamrolled by the Fed-pumped dollar, the rupee has fallen over 10 per cent this year and reached an all time low of 82.22/$ on Thursday, even though the Reserve Bank of India continues to sell its forex reserves to defend the local currency.

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By jaghit