mumbai july 14 reuters  the indian rupee is expected to open higher on friday as the us dollar slid even further on bets that the federal reserve is near halting its rate hike cycle nondeliverable forwards indicate rupee will open at around 82 to the us dollar compared with 820725 in the previous session the rupee on thursday managed to strengthen past 82 but was unable to sustain on forward dollar demand from importers some traders said two of them said it was possible that the reserve bank of india rbi was on the bid side on usdinr it will not surprise anybody if the rbi bought dollars yesterday a forex dealer at a bank said adding that he was betting that the currency would hold at 82 the dollars decline following the lowerthanexpected us june inflation data on wednesday showed no signs of pausing the dollar index was down to 9964 the lowest since april 2022 the gauge has tumbled 25 this week the moves witnessed across assets on wednesday continued overnight the dollar weakened us yields dropped and us equities marched higher the 2year us yield is now 50 basis point below last weeks high and the sp 500 index is at a 15month high us producer price data reinforced expectations that the federal reserve is nearly done with the rate hiking cycle coupled with the belowexpectations cpi data this has helped to cement the disinflation narrative within markets and make them question how many more hikes will be needed anz said in a note investors are now betting that the us federal reserve will deliver its last rate hike in the current cycle at the july 2526 meeting after that the fed is expected to remain on hold til the first quarter of next year key indicators  onemonth nondeliverable rupee forward at 8210 onshore onemonth forward premium at 85 paisa  usdinr nse july futures settled on thursday at 821225  usdinr july forward premium at 375 paisa  dollar index down at 9964  brent crude futures at 814 per barrel  tenyear us note yield at 377  as per nsdl data foreign investors sold a net 405mln worth of indian shares on jul 12  nsdl data shows foreign investors sold a net 485mln worth of indian bonds on jul 12