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The Economic Times
The Economic Times
National

Rupee headed to 100? How much the psychological red line matters

RBI India International Monetary Fund ET Inflation Oil Arvind Panagariya US Treasury United States Economy

The International Monetary Fund (IMF) has said India is strong enough to withstand the pressure on rupee. An IMF spokesperson on Friday suggested the US Federal Reserve's decision to hike interest rates would contribute to tighter global financial conditions and India allow the exchange rate to act as a shock absorber.

The rupee has slipped through ₹96 to the dollar as high US Treasury yields, oil prices and foreign portfolio outflows have combined to strengthen the dollar.

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