AIRLINK 185.82 Decreased By ▼ -2.66 (-1.41%)
BOP 12.59 Decreased By ▼ -0.11 (-0.87%)
CNERGY 7.13 Decreased By ▼ -0.12 (-1.66%)
FCCL 41.46 Decreased By ▼ -1.01 (-2.38%)
FFL 15.34 Decreased By ▼ -0.11 (-0.71%)
FLYNG 25.69 Increased By ▲ 0.46 (1.82%)
HUBC 131.92 Decreased By ▼ -1.54 (-1.15%)
HUMNL 14.20 Decreased By ▼ -0.20 (-1.39%)
KEL 4.62 Decreased By ▼ -0.17 (-3.55%)
KOSM 6.21 Decreased By ▼ -0.13 (-2.05%)
MLCF 51.13 Increased By ▲ 2.09 (4.26%)
OGDC 213.33 Increased By ▲ 2.96 (1.41%)
PACE 6.70 Increased By ▲ 0.27 (4.2%)
PAEL 41.47 Decreased By ▼ -1.02 (-2.4%)
PIAHCLA 16.72 Decreased By ▼ -0.17 (-1.01%)
PIBTL 8.67 Decreased By ▼ -0.25 (-2.8%)
POWER 10.90 Increased By ▲ 0.17 (1.58%)
PPL 176.76 Decreased By ▼ -1.30 (-0.73%)
PRL 35.64 Increased By ▲ 0.40 (1.14%)
PTC 24.82 Increased By ▲ 0.01 (0.04%)
SEARL 97.32 Increased By ▲ 0.49 (0.51%)
SILK 1.12 Increased By ▲ 0.01 (0.9%)
SSGC 31.46 Decreased By ▼ -0.43 (-1.35%)
SYM 18.03 Increased By ▲ 0.31 (1.75%)
TELE 8.26 Decreased By ▼ -0.05 (-0.6%)
TPLP 11.70 Decreased By ▼ -0.16 (-1.35%)
TRG 60.06 Decreased By ▼ -3.21 (-5.07%)
WAVESAPP 11.53 Decreased By ▼ -0.11 (-0.95%)
WTL 1.49 No Change ▼ 0.00 (0%)
YOUW 3.91 Decreased By ▼ -0.03 (-0.76%)
AIRLINK 185.82 Decreased By ▼ -2.66 (-1.41%)
BOP 12.59 Decreased By ▼ -0.11 (-0.87%)
CNERGY 7.13 Decreased By ▼ -0.12 (-1.66%)
FCCL 41.46 Decreased By ▼ -1.01 (-2.38%)
FFL 15.34 Decreased By ▼ -0.11 (-0.71%)
FLYNG 25.69 Increased By ▲ 0.46 (1.82%)
HUBC 131.92 Decreased By ▼ -1.54 (-1.15%)
HUMNL 14.20 Decreased By ▼ -0.20 (-1.39%)
KEL 4.62 Decreased By ▼ -0.17 (-3.55%)
KOSM 6.21 Decreased By ▼ -0.13 (-2.05%)
MLCF 51.13 Increased By ▲ 2.09 (4.26%)
OGDC 213.33 Increased By ▲ 2.96 (1.41%)
PACE 6.70 Increased By ▲ 0.27 (4.2%)
PAEL 41.47 Decreased By ▼ -1.02 (-2.4%)
PIAHCLA 16.72 Decreased By ▼ -0.17 (-1.01%)
PIBTL 8.67 Decreased By ▼ -0.25 (-2.8%)
POWER 10.90 Increased By ▲ 0.17 (1.58%)
PPL 176.76 Decreased By ▼ -1.30 (-0.73%)
PRL 35.64 Increased By ▲ 0.40 (1.14%)
PTC 24.82 Increased By ▲ 0.01 (0.04%)
SEARL 97.32 Increased By ▲ 0.49 (0.51%)
SILK 1.12 Increased By ▲ 0.01 (0.9%)
SSGC 31.46 Decreased By ▼ -0.43 (-1.35%)
SYM 18.03 Increased By ▲ 0.31 (1.75%)
TELE 8.26 Decreased By ▼ -0.05 (-0.6%)
TPLP 11.70 Decreased By ▼ -0.16 (-1.35%)
TRG 60.06 Decreased By ▼ -3.21 (-5.07%)
WAVESAPP 11.53 Decreased By ▼ -0.11 (-0.95%)
WTL 1.49 No Change ▼ 0.00 (0%)
YOUW 3.91 Decreased By ▼ -0.03 (-0.76%)
BR100 11,985 Decreased By -37.2 (-0.31%)
BR30 35,923 Decreased By -207 (-0.57%)
KSE100 114,528 Increased By 198 (0.17%)
KSE30 35,699 Increased By 86.5 (0.24%)

MUMBAI: The Indian rupee was expected to open firmer against the dollar on Friday, amid weaker oil prices and as Asian currencies were led higher by the Chinese yuan.

The rupee was seen around 82.25-82.30 per dollar in early trades, compared with its previous close of 82.42.

The currency has stabilised since the Reserve Bank of India hiked interest rates on Wednesday, having been sold off heavily before the event.

Risk assets may have a better session on Friday as soft US data overnight pressured the dollar, with oil prices near December 2021 levels helping the rupee, said a foreign exchange dealer.

“Expected range for the rupee is 82.00-82.50 per dollar, with oil companies eyeing lower USD/INR levels to buy dollars,” said Anil Kumar Bhansali, head of treasury, Finrex Treasury Advisors.

Asian equities and currencies gained, with the Chinese yuan up 0.2%.

Investor sentiment improved as Beijing reported lower COVID cases and a top official was quoted by state media on Thursday saying China’s shift in COVID policy would allow the country’s economy to pick up pace.

The dollar index was down for a third day.

Indian rupee eyes stronger opening on subdued dollar, oil prices

Fears around a slowdown in the United States owing to the Federal Reserve’s rate hikes have taken hold off late, with a rise in jobless claims adding to those concerns.

Investors were jittery ahead of a series of economic data releases in the United States, including monthly producer prices on Friday and consumer inflation next Tuesday.

Those data would be crucial for the Fed to determine its policy decision on Dec. 14. Money markets are pricing in a 93% chance that rates will be raised by 50 basis points.

Meanwhile, India’s November inflation report, due on Monday, is likely to show consumer prices cooled to a nine-month low of 6.40% mainly due to a moderation in food prices, a Reuters poll showed.

Comments

Comments are closed.