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Indian Rupee Rises To 1-week High Against U.S. Dollar
(RTTNews) - The Indian rupee climbed against the U.S. dollar in evening deals on Wednesday, as the latter was subdued amid expectations that U.S. inflation data due out later in the day will show moderation in price pressures.
Analysts expect a slowdown in U.S. consumer price growth to an annual rate of 3.1 percent from 4 percent in May. The core rate is expected to have fallen for a third month to 5 percent from 5.3 percent.
The Indian rupee advanced to 82.23 against the greenback, setting a 1-week high. If the rupee extends rise, 79.00 is possibly seen as its next resistance level.
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