The Indian rupee is likely to open largely unchanged on Thursday, with an eye on the rise in U.S. Treasury yields after robust U.S. retail sales data prompted further moderation of bets on aggressive rate cuts by the Federal Reserve.
Non-deliverable forwards indicate the rupee will open at around 83.14-83.15 to the U.S. dollar, barely changed from its previous closing at 83.1375.
Retail sales in the U.S. rose 0.6% from the previous month in December, higher than the 0.4% expected by economists polled by Reuters, signalling the resilience of household spending.
The dollar index climbed to its highest level in a month on Wednesday but was last quoted lower in Asia hours at 103.23.
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