This Friday, the Indian rupee appreciated, driven by Asian currencies and dollar sales on the market interbank. While the dollar recorded its best week.

The dollar was about to record its best week in over a month, with investors believing that the Federal Reserve is not expected to cut rates next month. One dollar stronger, against the background of weaker performance of American equities, also weighed on oil prices, the commodity denominated in dollars becoming more expensive for holders of other currencies.

Indian rupee strengthened slightly on Friday, following the moderate upward trend in Asian currencies and benefiting from dollar sales on the interbank market, while operators underlined a resumption of exporters' exchange hedges.

The rupee was most recently trading at 88.6350 for one US dollar at 10:20am IST, compared to 88.7050 in the previous session.

Regional currencies have rose from 0.1% to 0.3%, while the dollar index remained close to 100.1 and was moving towards weekly growth, as markets reduced their expectations of an imminent rate cut by the Federal Reserve American.