Hotel occupancy rates at 80% were the highest in the region
The Indian rupee opened higher on Thursday after weak US retail sales and cooling US inflation made it more likely that the Federal Reserve will cut rates later this year.
The South Asian currency was trading at 83.44 against the US dollar (22.735 against the UAE dirham) around 8am, up from 83.50 (22.75) in the previous session.
US consumer prices increased less than expected in April, fuelling hopes that the Fed will reduce borrowing costs, most likely at the September meeting.
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Hotel occupancy rates at 80% were the highest in the region
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