A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018.
REUTERS/Francis Mascarenhas Acquire Licensing RightsMUMBAI, Sept 20 (Reuters) - The Indian rupee, hovering near a record low, is expected to remain under pressure amid focus on crude oil prices and the U.S. Federal Reserve's policy decision.
Non-deliverable forwards (NDF) indicate rupee will open at around 83.25-83.29 to the U.S. dollar compared with 83.2675 in the previous session.
The Fed on Wednesday is widely expected to keep the policy rate unchanged with futures assigning a near zero percent probability of a rate hike.
"We expect the 2023 median policy rate forecast to show one more 25bps hike, for a terminal rate of 5.5-5.75%," BofA Global Research said in a note.
Persons:
Francis Mascarenhas, Brent, Nimesh Vora, Mrigank
Organizations:
REUTERS, Rights, U.S, Reserve Bank of, Fed, Research, Brent, Thomson
Locations:
Mumbai, India, Rights MUMBAI, U.S . Federal, Reserve Bank of India, Asia