Reversing direction, the Indian rupee firmed against the U.S. dollar in late morning deals on Monday.
Expectations of an interest rate cut by the RBI in its policy review on 19th underpinned sentiment.
The rupee climbed to an 11-day high of 54.205 against the greenback, recovering from an early low of 54.485. If the rupee extends gain, it may break 54.00 level. The pair closed deals at 54.3505 last week.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.