Indian Rupee gains against USD near 95.30
The Indian Rupee extends its rally against the US Dollar, with the USD/INR pair sliding to a fresh two-week low near 95.30.
The decline in the US Dollar comes amid growing doubts about the Federal Reserve’s commitment to reducing US inflation.
The US Dollar Index, which tracks the Greenback’s value against six major currencies, trades 0.27% higher to near 100.23, after falling almost 0.9% on Thursday.
Elevated oil prices due to US-Iran tensions may limit the Indian Rupee’s upside.