The 1-month ‌non-deliverable forward indicated the rupee will open in the 92.02-92.08 range versus the U.S. dollar, having settled at 91.7825 on Wednesday. This puts the currency on course to breach its prior all-time low of 91.9650 set last week. "It looks like the market is pre-empting expected NDF maturities, and it’s possible a round of stop-losses has been triggered." He added that the dollar may have found some support from comments by U.S. Treasury Secretary Scott Bessent, though the impact was likely marginal. Treasury yields rose after the Fed acknowledged ​that inflation remained elevated and the labour market continued to stabilize.