USD/INR drops as Pakistan announces release of Indian pilot

Pakistan's Prime Minister Imran Khan has announced that his country will release the captured Indian pilot on Friday, March 1st. Speaking in Parliament, Khan criticized his neighbor country but also called for peace. India earlier said they will not negotiate his release.

Tensions have been mounting over Kashmir in recent weeks following several hostilities. 

USD/INR is dropping. The Indian rupee is bid following Khan's statement. Dollar/INR has been on the move higher in recent days, hitting a high of 71.50. Support is seen at 70.80, then at 70.00.