The Indian rupee strengthened for a second straight session on Friday, helped by good dollar sales by corporates and as emerging currencies rose as risk sentiment improved on growing hopes for a U.S. debt deal in Washington.
Traders are hoping for more clarity on the U.S. debt ceiling resolution. On Friday, the dollar traded near a two-week peak versus the yen, while growth-linked currencies such as the Indonesian rupiah outperformed.
Reserve Bank of India Governor Raghuram Rajan said on Thursday the country is not nearly as troubled as investors fear and stressed that the government has plenty of money to meet its obligations.
Traders are hoping for more clarity on the U.S. debt ceiling resolution. On Friday, the dollar traded near a two-week peak versus the yen, while growth-linked currencies such as the Indonesian rupiah outperformed.
Reserve Bank of India Governor Raghuram Rajan said on Thursday the country is not nearly as troubled as investors fear and stressed that the government has plenty of money to meet its obligations.
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