The Indian rupee climbed to a more than four-month high and forward premiums were at the highest since May on the back of bets that the U.S. Federal Reserve will cut rates rapidly this year..
Indian rupee indecisive around 83/USD, awaits US inflation data zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
The Indian rupee held a
narrow range around a key psychological level on Thursday, as
traders gauge whether the currency has room to strengthen
further following the U.S. inflation data. .
The Indian rupee was
marginally higher on Friday, while its Asian peers were weaker
in the lead-up to the monthly U.S. jobs report that analysts say
will shape expectations around the March Federal.
The Indian rupee is expected to open higher on Thursday following a further slide in the U.S. dollar on bets the U.S. central bank will most likely cut interest rates in the next quarter. .