The Indian rupee is expected to open stronger on Friday, supported by gains in other Asian currencies and a temporary pause in the U.S. dollar index’s upward trend.
The one-month non-deliverable forward suggests an opening in the 86.00–86.02 range, compared to Thursday’s close at 86.0750- the rupee’s first close below 86 in nearly a month.
A currency trader at a bank noted that while the rupee may gain at the open due to regional strength, any drop in USD/INR should be viewed as a buying opportunity, citing favourable risk-reward conditions and market positioning.
The U.S. dollar index eased by 0.2% in Asian trading to 98.40, boosting most Asian currencies. This follows a sharp rally on Thursday that brought the index close to 99, driven by strong U.S. economic data, including robust June retail sales and a three-month low in jobless claims, which reinforced the narrative of a resilient labour market.
MUFG Bank commented that the U.S. data continues to reflect economic strength, although U.S. Treasury yields remained mostly flat. Markets remained steady in their expectations regarding future rate cuts by the Federal Reserve, with little change in projections for a potential rate cut in September or the total expected in 2025.
Even with Friday’s dip, the dollar index is up 0.6% for the week, following a nearly 1% gain the previous week. MUFG Bank added that persistent short positions on the U.S. dollar could reverse and provide further support to the currency.
Key indicators:
- One-month non-deliverable rupee forward at 86.08
- Onshore one-month forward premium at 10 paise
- Dollar index at 98.41
- Brent crude down 0.1% to $69.50 per barrel
- U.S. 10-year Treasury yield at 4.44%
- Foreign investors sold $121.3 million in Indian equities on July 16 (NSDL data)
- Foreign investors bought $3.5 million in Indian bonds on the same day (NSDL data)
Armenian Prime Minister Nikol Pashinyan's party is on course for victory, with Armenian media reporting that the country's Central Election Commission...
Iran says the first wave of attacks on Israel since April's ceasefire has ended, but warned of further strikes if Israel continues military action in ...
Uzbekistan and Russia have agreed to deepen cooperation in agriculture, energy and food security following high-level meetings held during the St Pete...
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said on Monday that the U.S. would bear direct responsibility for any escalation in West Asia a...
UK Prime Minister Sir Keir Starmer has hosted Ukrainian President Volodymyr Zelenskyy, French President Emmanuel Macron and German Chancellor Friedric...
Armenian Prime Minister Nikol Pashinyan's party is on course for victory, with Armenian media reporting that the country's Central Election Commission has completed the vote count in the parliamentary elections. An official announcement is still expected.
Uzbekistan and Russia have agreed to deepen cooperation in agriculture, energy and food security following high-level meetings held during the St Petersburg International Economic Forum (SPIEF) 2026.
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said on Monday that the U.S. would bear direct responsibility for any escalation in West Asia after Iran and Israel resumed strikes for the first time since the April ceasefire.
UK Prime Minister Sir Keir Starmer has hosted Ukrainian President Volodymyr Zelenskyy, French President Emmanuel Macron and German Chancellor Friedrich Merz for high-level talks in Westminster focused on ending the war in Ukraine.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian Prime Minister Nikol Pashinyan's party is on course for victory, with Armenian media reporting that the country's Central Election Commission has completed the vote count in the parliamentary elections. An official announcement is still expected.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
The results of Armenia’s parliamentary elections will determine the makeup of the National Assembly and shape the country's political direction for the foreseeable future. But in Armenia, the final result is not decided by vote percentages alone. Here's how it works.
For about three decades after the Soviet collapse, Armenia anchored its foreign and security policy to Moscow.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment