Rupee pegged back by higher US yields; hopes of RBI intervention counters

The Indian rupee is poised to open nearly flat on Friday amid a rally in the dollar index and U.S. rates and expectations that the country's central bank will aid the local currency. The 1-month non-deliverable forward indicated that the rupee will open barely changed to the U.S. dollar from 84.0675 in the previous session. The Reserve Bank of India, like it has been for months now, receives a large part of credit for the lack of volatility post 84.