MUMBAI (Reuters) – The Indian rupee rose above the crucial 82 per dollar mark on Friday morning, tracking gains in most other Asian currencies, as fresh U.S. data indicated the Federal Reserve may not be as hawkish as was indicated in its policy statement earlier this week.
The rupee rose to a high of 81.9450 against the dollar, its highest since May 11. It had closed at 82.1750 on Thursday.
“Corporate inflows are helping, and the market is not buying the Fed’s hawkish pause after the jobs data,” said a dealer at a private bank.
“It will be tough for the rupee to edge above 81.80 as importers will rush to hedge.”
(Reporting by Siddhi Nayak; Editing by Sonia Cheema)
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