Indian rupee posts its strongest weekly gain since April 3, up 0.83% on bond inflows and softer oil

The Indian rupee rose 0.83% this week, its strongest weekly performance since the week ended April 3 and the best in nearly 11 weeks. Support came from recent Reserve Bank of India measures aimed at attracting dollar deposits and lowering hedging costs, alongside continued foreign inflows into Indian government bonds and a pullback in Brent crude that eased imported inflation pressure. The rupee came under mild pressure on Friday as the dollar index climbed to a one-year high and Middle East talks faced a setback, but it still finished the week notably stronger.