The country is also in a better position among emerging market currencies due to its $630-billion-plus foreign exchange reserves
According to Crisil Ratings, the domestic currency is likely to settle at 76.5 against the American currency in March 2022
The rupee declined by 11 paise to close at 76.55 (provisional) against the US dollar on Monday amid moderating crude oil prices and foreign fund outflows.
The rupee pared its initial gains and settled 18 paise lower at 76.61 (provisional) against the US currency on Friday amid dollar demand from oil importers and state-run power companies.
The rupee advanced 16 paise to 76.27 against the US dollar in the opening trade on Friday, supported by positive domestic equities and a pullback in crude oil prices.
Brent crude futures, the global oil benchmark, were trading 1.88 per cent lower at USD 125.57 per barrel
An orderly adjustment would be healthy
Sri Lanka's foreign reserves fell to $2.36 billion at the end of January
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Uncertainty resulting from the Russian invasion of Ukraine and over how other currencies behave among factors keeping exporter sentiment in check
Russia-Ukraine fallout for India may be severe
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Heavy dollar selling by Reserve Bank slows the pace of fall
At the interbank foreign exchange market, the rupee opened weak at 76.06 against the American dollar and fell further during the session as investors moved away from riskier assets
Most emerging Asian currencies and stocks weakened on Friday amid heightened investor anxiety after reports that Russian forces had attacked a nuclear plant in Ukraine
At the interbank foreign exchange market, the rupee opened strong at 75.76 against the American dollar but soon entered the negative territory as investors turned towards safe-haven assets
The benchmark 10-year bond yield edged up to 6.81 per cent on Wednesday, the highest since February
The RBI is also likely to come up with a plan soon, and has collected information from Indian banks
At the interbank foreign exchange market, the rupee opened at 75.78 against the American dollar but later dropped to a low of 75.86
The rupee weakened 0.95 per cent against the dollar in February