An attendant at a fuel station arranges Indian rupee notes in Kolkata, India, August 16, 2018. REUTERS/Rupak De Chowdhuri/File Photo Acquire Licensing Rights
MUMBAI, Sept 8 (Reuters) – The Indian rupee is expected to open higher on Friday on the back of a pullback in U.S. Treasury yields and a broadly softer dollar.
Non-deliverable forwards indicate the rupee will open at around 83.12-83.14 to the U.S. dollar compared with 83.21 in the previous session.
The rupee has been flirting with the record low of 83.29 and has largely avoided it, thanks to the Reserve Bank of India’s (RBI) intervention.
“It has been another week where the RBI has once again successfully avoided a big move,” a forex trader at a Mumbai-based bank said.
“Having said this, it does seem to me that the RBI is just delaying the inevitable.”
The dollar index retreated in the Asia session to 104.86, having reached a…
