Ella 
The Indian rupee (INR) traded marginally higher on Friday despite a rebound in the US dollar (USD). Strong growth in India’s business sector in May and a sharp rise in exports and jobs provided some support to the rupee. In addition, falling crude oil prices also provided support to the local currency as India is the world’s third-largest oil importer and consumer.
On Friday, investors will focus on U.S. durable goods orders, Michigan consumer sentiment and Fed Waller’s speech for fresh impetus. Stronger U.S. economic data and hawkish comments from Federal Reserve (FED) officials could boost the greenback, limiting the pair’s downside. Additionally, foreign capital outflows ahead of the results of India’s upcoming general elections may also weigh on the Indian rupee.
