Indian Rupee (INR) extends the rally on Friday, bolstered by interbank US Dollar (USD) sales.
India n Rupee trades on a positive note on the weaker USD on Friday. The uptick in INR is bolstered by interbank USD sales and easing Middle East tensions. The final reading of the US March Personal Consumption Expenditures Price Index will be the highlight on Friday. India n Rupee extends the rally on Friday, bolstered by interbank US Dollar sales. The softer USD against key rivals overseas and easing geopolitical tensions in the Middle East also supported the local currency.
analysts expect the Fed to leave its policy rate unchanged in May and said that economic growth and core inflation data in the coming months will likely impact policy in June and beyond. Technical analysis: USD/INR maintains a constructive outlook in the longer term The Indian Rupee trades stronger on the day. The positive outlook of USD/INR remains unchanged on the daily chart as the pair is above the key 100-day Exponential Moving Average .
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