Indian Rupee Appreciates To Near 1-year High Versus U.S. Dollar

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The Indian rupee moved up against the U.S. dollar in the evening session on Friday, as traders await key data releases due shortly.

The consumer inflation is expected to ease to 4.45 percent on year in January from 4.59 percent in December.

Industrial production is seen falling 0.2 percent in December versus a 1.9 percent decrease in the previous month.

The Indian rupee advanced to near a 1-year high of 72.56 versus the greenback from yesterday’s close of 72.73. Key resistance for the rupee is seen around the 70.5 level.

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