Rupee advances ahead of US Jobs data; opens 5 paise higher at 88.10/$

Indian Rupee today: The domestic currency opened five paise higher at 88.10 against the greenback on Friday

The Indian Rupee traded with slight gains on Friday as traders awaited US jobs data, with expectations of a September rate hike by the Federal Reserve increasing. 

 

The domestic currency opened five paise higher at 88.10 against the greenback on Friday, according to Bloomberg. So far this year, the rupee has depreciated 2.95 per cent, making it the worst performer among Asian peers.

 

Equities failed to sustain gains, and the rupee too weakened as dollar demand persisted at every uptick in the previous session, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Sentiment remained under pressure from United States tariff concerns and capital outflows, leaving the currency unable to post more than sporadic gains, he said. 

   

The recent revisions in the Goods and Services Tax (GST) provided only a marginal early boost to the economy, Bhansali said. The GST Council, chaired by the Union Finance Minister, reached a consensus on Wednesday to adopt a simplified two-tier rate structure. The new rates will take effect from September 22, the first day of Navratri. 

 

"In the near term, the rupee’s trajectory will hinge on Reserve Bank of India policy action, global risk sentiment, and trade policy developments. Forward premiums have remained steady in recent days, with the rupee expected to trade in the 87.80–88.50 range."

 

Global funds have been net sellers in stocks in the first four days of September and have sold equities worth ₹1.42 trillion so far this year, according to NSDL data. 

 

The dollar index was trading lower as weak US jobless claims reinforced the expectations of a September rate cut by the Federal Reserve. Traders will also eye the key jobs data on Friday, which is expected to extend the weakest stretch of US job growth since the pandemic, Bloomberg reported.   ALSO READ: Asian stocks track Wall Street higher, bond yields ease before US payrolls 

In commodities, crude oil prices fell for the third day as investors await the Opec+ meeting on September 7, 2025, where potential output hikes will be considered. Brent crude price was down 0.18 per cent at 66.87 per barrel, while WTI crude prices were lower by 0.20 per cent at 63.35 per barrel, as of 9:07 AM IST.

  ALSO READ: Asian stocks track Wall Street higher, bond yields ease before US payrolls