The Indian rupee opened sharply higher against the U.S. dollar on Friday on firm global cues after U.S. Federal Reserve announced plans to buy mortgage-backed securities to boost the lagging economy.
Indian government's decision to raise the diesel price by a steep Rs.5 per liter and limiting supply of subsidized liquefied petroleum gas (LPG) cylinders to 6 per household in a year also improved sentiment.
The rupee advanced to 54.78 per dollar, its strongest level since July 20 and the next resistance level for the rupee is seen at 54.00. The pair closed yesterday's deals at 55.4255.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.