The Indian rupee closed strong against the U.S. dollar tracking the weakness in the greenback amid expectations of a possible pause by the U.S. Fed.
The local currency strengthened 10 paise to close at Rs 82.47 after opening at Rs 82.49 against the greenback on Friday.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
It closed at Rs. 82.57 on Thursday, according to Bloomberg data.
"The rupee is likely to gain amid weakness in the dollar. Data from US showed the labour market was slowing, bolstering expectations that US Fed may pause rate hikes in its meeting next week", ICICI Research Direct said in a note.
"As per CME FedWatch toll, the market is pricing a 75% chance of Fed hitting the pause button in upcoming meeting. US$INR is expected to face a hurdle near 82.70 and move back towards 82.30. Only a close below 82.30 would weaken the pair towards 82.10", the note said.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.