Rupee Gains as Dollar Index Hits Seven-Week High

The Indian rupee has opened higher at 95.75 per dollar, mirroring gains in its Asian peers.

The US dollar index, which measures the value of the US currency against six other units, was at a seven-week high of 100.4 on Friday.

Traders are pricing in a significant probability of a rate hike by the Federal Reserve this October, with a 56% chance of an increase compared to 43.5% last week, according to the CME FedWatch tool.