The Indian rupee strengthened against the U.S. dollar in the late morning deals on Friday, after Fed policymakers voted 9-1 to keep short-term interest rates unchanged near zero and voiced concerns about inflation and global economic growth.
Against the greenback, the rupee rose to more than a 3-week high of 65.8800 from an early low of 66.2150. At yesterday’s close, the rupee was trading at 66.1500 against the greenback.
If the rupee extends its uptrend, it is likely to find resistance around the 64.00 area.
The material has been provided by InstaForex Company – www.instaforex.com