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Reliance Securities Report
From an intraday perspective, the Indian rupee could open flat to marginally weaker against the dollar this Friday morning after hawkish Fed members pushed back rate cuts until later this year.
However, losses will be capped as soaring growth in the Indian economy will magnify a bullish backdrop that will promote the inflow of flows and a hawkish Reserve Bank of India.
The non-deliverable forward market is indicating that the rupee could open around 82.9100 to 82.9200 against the dollar compared with 82.9125 in the previous session and the range for the session remains between 82.8400 to 82.9700.
Asian peers have started mostly weaker this early Friday morning and could cap gains.
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