The dollar is nearing an 8-week low, while the Indian rupee changed little on Friday. Dollar-rupee term premiums declined slightly ahead of the Reserve Bank of India's monetary policy decision

The dollar stayed near an eight-week low on Friday ahead of a crucial U.S. jobs report that should provide clues about the timeline for Federal Reserve interest rate cuts. The dollar appreciated slightly to 155.85 yen but remained on track for a loss of nearly 1% over the week. The US dollar index, which tracks the currency against the euro and five other main rivals, was little changed at 104.13 at the start of the Asian day, not far from this week's low of 103.99, the first time it fell below 104 since April

The rupee was at 83.4750 against the US dollar at 09:20 IST, barely changed from its close of 83.4725 in the previous session. According to Amit Pabari, managing director of currency consulting firm CR Forex, the dollar-rupee pair “is expected to remain volatile but in a range of 82.90 to 83.70, with 83.10 to 82.90 as a buy zone.” Interest rate futures expect two rate cuts this year, the first in September