Indian Rupee: Expected To See Some Recovery

14 Oct 2022 , 09:13 AM

The Indian rupee is expected to see some recovery amid mild pull back in dollar index following a sharp spike overnight. Meanwhile, Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from global markets overnight, as a sharp increase in the price of crude oil contributed to significant strength. The U.S. dollar also retreated and shed ground against most of its Asian major counterparts. On Thursday, rupee traded in a narrow range and settled 5 paise lower at 82.38 against the US dollar. At the interbank foreign exchange, the rupee witnessed range-bound trading. It opened at 82.30 against the US dollar, then fell further to close at 82.38, registering a fall of 5 paise over the last close. It was moving in a tight range of 82.25 to 82.42. Powered by Commodity Insights