Indian rupee closed higher against the US dollar for the second straight session on July 11, tracking gains in its Asian peers.
The home currency ended at 82.37 to a dollar, up 0.25 percent from its previous close of 82.58.
Traders eagerly await the US consumer price inflation data on Wednesday, which is anticipated to reveal a decline in headline inflation to 3.1 percent, its lowest level since early 2021, down from 9.1 percent a year ago.
Asian currencies gained after traders reduced expectations for further rate hike by the US Federal Reserve, after data showed US consumer borrowings slowed to a more than two-year low in May.
Among Asian currencies, South Korean won gained 1 percent, Thai Baht rose 0.78 percent, Philippines peso 0.78 percent, Japanese yen 0.6 percent, China Offshore 0.36 percent, Indonesian rupiah 0.34 percent, Singapore dollar 0.27 percent, Malaysian ringgit 0.25 percent and Taiwan dollar rose 0.21 percent.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.771, down 0.20 percent from its previous close of 101.97.
Source: Moneycontrol
