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Rupee set to rise after soft US data boosts Fed rate cut odds
short by / on Friday, 16 May, 2025
The Indian rupee is expected to strengthen at open on Friday, buoyed by widespread US dollar weakness following soft economic data that supported expectations for a Federal Reserve rate cut later this year. The 1-month non-deliverable forward indicated that the rupee will open at 85.34 to 85.36 to the US dollar compared with 85.55 in the previous session.