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)
In a workshop surrounded by the wreckage of war, workers in Gaza are giving a second life to small leisure boats once used for family outings and swim...
Five Azerbaijani crew members were killed, and three others were injured after two cargo vessels were hit in a drone attack in the Sea of Azov, Azerba...
The United States has approved the possible sale of five Seahawk maritime helicopters to New Zealand in a deal valued at $1.5 billion, as Wellington m...
The United States has announced an additional $38 million to support efforts to contain the Ebola outbreak in the Democratic Republic of Congo, as hea...
Armenians will vote on Sunday in a parliamentary election that will determine whether Prime Minister Nikol Pashinyan secures a new mandate to pursue ...
In a workshop surrounded by the wreckage of war, workers in Gaza are giving a second life to small leisure boats once used for family outings and swimming trips.
Five Azerbaijani crew members were killed, and three others were injured after two cargo vessels were hit in a drone attack in the Sea of Azov, Azerbaijan's Foreign Ministry said on Friday, as Russia blamed Ukraine for the strike.
The United States has approved the possible sale of five Seahawk maritime helicopters to New Zealand in a deal valued at $1.5 billion, as Wellington moves to strengthen its armed forces.
Armenians will vote on Sunday in a parliamentary election that will determine whether Prime Minister Nikol Pashinyan secures a new mandate to pursue peace with Azerbaijan or cedes ground to pro-Russian rivals.
Five Azerbaijani crew members were killed, and three others were injured after two cargo vessels were hit in a drone attack in the Sea of Azov, Azerbaijan's Foreign Ministry said on Friday, as Russia blamed Ukraine for the strike.
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika.
Azerbaijan has strongly rejected allegations published by CNN claiming that its territory was used for Israeli military and intelligence operations against Iran, describing the report as entirely baseless and demanding a retraction.
Armenia will hold parliamentary elections on 7 June 2026, a vote that will shape the country’s political direction for the next five years. Understanding how the electoral system converts votes into parliamentary power is key to following the outcome and its wider regional implications.
Armenia’s National Assembly election on 7 June is increasingly being viewed not only as a domestic political contest, but also as a vote that could shape the future direction of the South Caucasus.
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