The Indian rupee rose for the fifth straight session on Friday, helped by gains in Asian peers and likely portfolio inflows, after the U.S. Federal Reserve kicked off its interest rate cutting cycle earlier this week.

This has been corrected to reflect that the Fed moved to cut rates twice by 50 basis points and 100 basis points in March 2020. The U.S. dollar has been sliding in the run-up to a widely expected interest-rate cut from the Federal Reserve on Wednesday and,

The US Dollar experienced a decline on Thursday following the Federal Reserve's decision to cut interest rates by 50 basis points and adjust its monetary policy forecast. This led to notable gains for the British pound,

Investor expectations had largely shifted towards a dovish outcome in the days leading up to the Fed's move on Wednesday, with money markets pricing in around a 65% chance of a 50 basis point (bp) cut.

The Federal Reserve's 50 bp rate cut has made for a volatile 15 hours or so in the foreign exchange market. Click to read.

For the first time in 16 years, the federal reserved slashed interest rates by half a percentage point and this means relief for millions of Americans.

The Indian rupee rose to its strongest level in over six weeks on Thursday after the Federal Reserve kicked off policy easing with a 50-basis-point rate cut, but traders expect importer dollar bids to limit the currency's immediate gains.

Before the US Federal Reserve announced its interest rate decision on September 18, analysts were majorly expecting a smaller cut of 0.25%. The decision comes amid growing concerns about economic conditions,