The Indian rupee little changed at 64.42 pair now at 64.33 against 64.2450 previous close.
Pair to tip in 64.25- 64.50 range today.
The Indian rupee fell to a near eight-week low against the dollar in early session, as another equity sell-off following an upbeat U.S. economic data drove yields higher and boosted Dollar demand. Risk-off sentiment in the global markets weighed on the rupee, even as lower crude oil prices gave some relief to the local currency. A U.K.-based lender sold dollars in early trade, likely on behalf of a corporate client along with a large private lender.
Global Currency
The BoE also raised its growth forecasts, saying that it now expects the British economy will expand faster than expected this year and in 2019. The dollar rose to fresh two-week highs against a currency basket earlier Thursday.
The pound rallied, with GBP/USD surging 1.17% to 1.4036 after the BoE warned that interest rates could rise faster than investors are currently anticipating after its policy meeting on Thursday.
Global Markets
US crude prices fell in Asia on Friday, following a second straight negative day and on pace for a more than 5% drop on week for its worst weekly performance since May of 2017 when it fell 6.30%.
Gold prices rose in Asia on Friday with the Chinese New Year next week expected to stoke some physical demand as the People's Bank of China released nearly CNY 2 trillion in extra liquidity on a day when prices data came in stable and other key gold buyer India witnessing a pickup on a lower tax rate for the yellow metal.
