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Indian rupee opens at 88.1075 against US dollar
The Indian rupee opened a bit stronger at 88.1075 against the US dollar on Friday, thanks to a dip in the dollar index after growing expectations of a US Fed rate cut.
This small boost comes as global markets keep an eye on what's next for interest rates.
Rupee has fallen nearly 3% this year
So far in 2025, the rupee has slipped about 3%, while currencies like the Korean won and Chinese yuan have actually gained ground.
Amit Pabari, managing director at CR Forex Advisors, says global uncertainty and possible Fed moves could give the rupee some room to recover.
Still, a forex trader told Reuters that strong client interest in buying on dips might keep the USD/INR above 88 for now.