MUMBAI, Sept 22 Reuters The Indian rupee is expected to climb at the open on Friday as India39;s inclusion in JPMorgan39;s widely followed emerging market bond index is expected to lead to inflows of billions of dollars.

Nondeliverable forwards indicate the rupee will open at around 82.8082.82 to the U.S. dollar, compared with 83.09 in the previous session.

We would probably have been much higher if global cues were supportive, a forex dealer at a Mumbaibased bank said.

No doubt that this inclusion is a big positive, but keep in mind, from the nearterm perspective, that inflows will happen months down the line.

Indian government bonds will be included in the Government Bond IndexEmerging Markets index and the index suite, JPMorgan said on Friday.

Inclusion will start on June 28, 2024, and extend over 10 months with 1 increments on its index weighting. India is expected to reach the maximum weighting of 10, JPMorgan said.

The index inclusion could result in inflows of about 24 billion into eligible government bonds from the start of next year to May 2025, IDFC First Bank said in a note.

India39;s inclusion in the JPMorgan index increases the probability of inclusion into the Bloomberg Global Aggregate Bonds Index, which, IDFC First Bank estimates, could lead to additional inflows of 15 billion to 20 billion.

However, on the day, the rupee will have to contend with another move higher on longmaturity U.S. Treasury yields.

The 10year yield climbed to 4.50, the…