The Indian rupee is expected to open higher on Wednesday, helped by an uptick in Asian peers, but is unlikely to build much on its initial advance, traders said.
Non-deliverable forwards indicate rupee will open at around 82.52-82.54 to the U.S. dollar, compared with 82.6050 in the previous session.
Based on Tuesday's session and the overall lack of volatility, 82.50 should hold for now, the trader added. Interest rate bets further leaned towards a Fed rate-pause scenario next week , said Yeap Jun Rong, a Singapore-based market strategist at IG Asia.
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