Asian FX range-bound; Indian rupee rises on JPMorgan index inclusion

EMERGING Asian stock markets rose on Friday, while most currencies traded in a narrow range as investors digested the prospects of higher-for-longer U.S. interest rates.

In India, the rupee appreciated 0.2%, while equities rose 0.1%. Bonds rallied after JPMorgan said it would include Indian debt to its widely tracked emerging market debt index, setting the stage for billions of dollars of inflows into the world's fifth-largest economy.