Ella 
The Indian rupee (INR) recovery weakened on Friday as demand for US dollars persisted, which is likely to come from importers. Meanwhile, rising geopolitical tensions in the Middle East and surging oil prices have put some selling pressure on the Indian rupee and lifted safe-haven currencies such as the U.S. dollar. However, the RBI’s two-way foreign exchange intervention to keep the Indian rupee stable may limit the currency’s downside.
The Monetary Policy Committee (MPC) of the Bank of India will announce its interest rate decision at 12:30 Beijing time on Friday. The Reserve Bank of India is widely expected to keep the repo rate unchanged at 6.50% and cut interest rates in the third quarter. In the United States, U.S. employment data including March non-farm payrolls (NFP), unemployment rate and average hourly earnings will be in focus. U.S. nonfarm payrolls data for March are expected to add 200,000 jobs to the U.S. economy.
