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MUMBAI: The rupee should back away from one-year peaks on Friday, following the dollar’s gains versus major units.
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Quarterly results from outsourcer Infosys Technologies around 9 a.m. (0330 GMT) will be watched for cues on the sharemarket.
The dollar inched up from 14-month lows against a basket of currencies on Friday, after Federal Reserve Chairman Ben Bernanke indicated that monetary policy might have to be tightened as a recovery takes hold.
The dollar index, a gauge of the U.S. unit’s performance versus six majors, was up 0.3 per cent.
Most Asian indices were in the green at 0220 GMT. The Nikkei was up 0.6 per cent, the Kospi rose 1.5 per cent while the Shanghai Composite index gained 3.1 per cent.
The Nifty India stocks futures traded in Singapore, were up 0.5 per cent.
On Thursday, the partially convertible rupee rose to 46.22 per dollar, its highest since Sept. 26, 2008, before ending at 46.34/35, about 0.7 per cent above Wednesday’s the previous close.
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