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Indian rupee sees best week in five; traders await US jobs data
The Indian rupee ended the week at 82.3050 against the US dollar, the highest since May 17, as investors increasingly bet on a rate pause by the US Federal Reserve weakening the dollar. Recent foreign inflows and upbeat growth numbers from India have supported the currency. Easing domestic inflation, stronger-than-expected economic growth and improved investor confidence in the country have also lifted sentiment. Analysts are now eyeing the US jobs report and inflation data due next week, which could provide direction for the dollar index. The dollar's high deposit rates are seen slowing its sell-off.