"Now, we expect changing macro factors to help revive foreign fund inflows even in domestic debt assets. Hence, expected further flows in domestic markets are likely to keep the rupee on a strong note," it said.
Analysts at Nirmal Bang Securities says, "The USD/INR pair has marked a long red candle but with higher highs and higher lows. It is currently trading below all its important moving averages. If the pair breaks the 68.75 level, selling can be initiated towards 68.5/.25."
On the global front, Asian shares hit 6-1/2-month highs today after upbeat US data and optimism in the tech sector lifted Wall Street stocks, helping calm some of the jitters sparked by the Federal Reserve’s cautious outlook on the world’s biggest economy, Reuters reported.
The dollar also jumped back, with its index against a basket of six major currencies rising to 96.327 from Wednesday’s 1-1/2-month low of 95.735.
In the commodity market, oil prices hovered close to 2019 peaks amid OPEC supply cuts, said a Reuters report.