The Indian rupee is expected to struggle at open versus the US dollar on Friday tracking losses in other Asian currencies amid tepid risk appetite. Non-deliverable forwards indicate the rupee will open at around 82.10-82.12 to the US dollar compared with 82.09 in the previous session. With the dollar doing well despite the weak US data, USD/INR will likely be "slightly bid" at open, a spot trader said. Asian currencies were down between 0.3 per cent and 0.6 per cent, weighed by the dollar recovery against major peers. The dollar's strength, despite the data, was put down by analysts to safe-haven demand amid renewed worries over US regional banks.

Source: The Hindu May 12, 2023 07:41 UTC