Rupee may slip on oil, risk-off mood; RBI once again expected to ride to rescue

The Indian rupee is likely to experience a lower opening on Wednesday amidst climbing oil prices and increasing U.S. Treasury yields. The sentiment in the market is further influenced by the Reserve Bank of India's swap facility announcement. In an effort to bolster the currency, the central bank is selling dollars daily. Market participants are closely monitoring any intervention near the 95.80-96.00 range.