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Rupee will find its own level, says Nirmala Sitharaman
The rupee opened at 82.68 against the US dollar at the interbank foreign exchange.
This is the fourth consecutive session of loss for the domestic currency.
Elevated ATF prices will impact earnings and liquidity profile of the airlines in the near to medium term, while weaker rupee to dollar will raise input costs.
The domestic currency has been in a freefall for the past few weeks due to strengthening greenback.
RBI on Monday put in place an additional arrangement for invoicing, payment, and settlement of exports and imports in the Indian rupee.
Nomura expects the Indian rupee to fall to 82 against the dollar by the third quarter of 2022.
The local currency opened at 77.56 against the US dollar and hit an all-time low of 77.58 versus the greenback.
The rupee opened at 77.17 against the US dollar at the interbank foreign exchange.