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.

The stock market, Indian rupee, and gold price are all likely to do better following the much-anticipated rate cut by the Fed in the US. Here’s why optimism may be warranted

The Indian Rupee 's recovery on Thursday will have to contend with a broadly higher US dollar despite the Federal Reserve delivering a 50-basis-point rate cut. The 1-month Dollar / Rupee non-deliverable forward (NDF) declined to 83.

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.