The Indian rupee is expected to open higher on Friday and add to its weekly advance, boosted by healthy risk appetite and bets the U.S. Federal Reserve will push borrowing costs further lower. The 1-month non-deliverable forward indicated the rupee will open at 83.

Fed pivot comes in response to months of fading inflation, and it is meant to prevent the economy from slowing so much that the job market begins to weaken more

The Federal Reserve yesterday cut its benchmark interest rate a larger-than-usual half-percentage point, to between 4.75% and 5%. It was the Fed's first cut since jacking up interest rates to 23-year highs two years ago to conquer soaring inflation.