Sushil Finance expects USDINR to trade positive on the back of strong US dollar against most of the currencies. The Indian rupee hit an 8-1/2 month low on Wednesday as global gains in the dollar ahead of the release of U.S. Federal Reserve minutes later in the day and slumping crude prices spurred oil firms to accelerate their greenback purchases.

Fed minutes come amid rising expectations the U.S. central bank is moving towards eventual rate hikes, in contrast to the European Central Bank or the Bank of Japan.

Any U.S. rate hikes could end up hitting emerging market currencies such as the rupee, despite the accommodative stances in countries outside the United States.

But traders say relatively better economic fundamentals in India could protect the rupee from steep falls compared with other emerging market currencies, the broking firm added.

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