Indian Rupee: Expected To See A Positive Opening

25 Nov 2022 , 08:53 AM

The Indian rupee is expected to a see a higher opening on Friday tracking a weak dollar overseas after the minutes from the Federal Reserves November meeting supported the view that the central bank would downshift and raise rates in smaller steps from its December meeting. The dollar index, which measures the greenback against six major peers, was at 105.80, down 0.16% on the day. On Thursday, rupee appreciated 30 paise to close at 81.70 against the US dollar. At the interbank foreign exchange market, the local unit opened at 81.72 and touched an intra-day high of 81.60 and a low of 81.77 against the greenback. Overseas, Asian markets were trading marginally lower on Friday amid concerns over rising Covid cases in China and inflation in Japan. Markets in the US were closed for the Thanksgiving holiday on Thursday and will close early on Friday. Powered by Commodity Insights