The Indian rupee could open weak at around 75.90/95 against the dollar as a robust U.S. jobs report underpinned bets that the Federal Reserve will raise rates aggressively but lower crude prices could cap the depreciation bias, said Reliance Securities in an emailed statement to BloombergQuint.
Asian and emerging market peers were mixed this morning but could track the dollar may hence lead to a depreciation at open for the Indian currency, it said.
The Indian rupee ended 0.16% higher than previous close at 75.79 against the dollar as crude prices fell.
Crude has dropped to $103 a barrel from $113 as rising coronavirus cases in China hint toward lower demand, along with U.S. President ordering an unprecedented release of strategic reserves to temper down rampant prices.
The Indian equity market logged the second best week in nearly seven months at close on Friday.
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