The Indian rupee firmed against the U.S. dollar in evening deals on Friday as global risk sentiment lifted up following comments from Fed officials supporting continued stimulus measures.
The Federal Reserve officials emphasized yesterday that the central bank's bond buying program would only end when there are clear signs of economic improvement visible.
Indian government's approval for a gas price hike for the first time in three years also supported rupee rally.
The rupee touched a 1-week high of 59.2555 against the dollar, up almost 1.6 percent from Thursday's closing quote of 60.1955. The rupee may eye next upside target level around the 59.00 area.
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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.