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2024

Rupee inches higher tracking gains in most Asian peers

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The Indian rupee reached 83.4625 against the U.S. dollar, aided by a weaker dollar index and gains in yen and yuan. Brent crude prices eased. The U.S. jobs report and bond yields will impact Federal Reserve rate forecasts. Importers' hedging may limit rupee gains. Lloyd Chan of MUFG Bank expects the dollar to weaken as U.S. job market softens.