Indian equities scaled record highs on Friday after the central bank stayed pat on rates, while investors parsed Hungarian economic data that signalled easing domestic inflation ahead of a key U.S. jobs report.

India's NSE Nifty 50 index climbed 0.1% after the Reserve Bank of India left key rates at 6.5% and raised the country's growth forecast to 7% from 6.5% for fiscal 2023-2024, following a robust performance in the July-September quarter.

"From being a part of fragile (5%) some time back to having GDP growth revised upwards to 7% when global growth has become fragile is the summary of the good work done by the RBI and the government in the most challenging times," said Nilesh Shah, MD, Kotak Mahindra AMC.

On a weekly basis, Indian equities are on course for its longest weekly winning streak in three years.

More broadly, MSCI's gauge for developing markets stocks added 0.4%, while a basket of currencies edged up 0.2% against the dollar by 0927 GMT.

The equities index is set for a weekly loss of nearly 1%, snapping a five-week winning streak.

Among currencies, China's yuan is on course for a weekly decline of 0.3% - its worst week since mid-September following a Moody's downgrade earlier in the week.

The country's blue-chips index closed 0.2% up. China will spur domestic demand and consolidate and enhance the economic recovery in 2024, the Politburo said as per a report.

Meanwhile, Hungary's forint inched 0.2% lower after data showed local inflation slowed to an annual 7.9% rise in November, leaving the central bank a path to lower interest rates.

Pakistan's benchmark share index extended gains by 2.2% to hit record highs as the International Monetary Fund (IMF) said it will meet on Jan. 11 to consider the final approval to hand the next $700 million tranche of its loan program.

Russia's rouble strengthened to 91.79 against the dollar ahead of November inflation data. Analysts expect a 7.6% annual increase, which could move the local central bank to bump up borrowing costs by another 100-basis-points before year-end.

Egypt's pound was flat even after the IMF said it is in discussions with the local government on additional financing as part of a current program.

Egypt will also see presidential elections between Sunday through Tuesday where former army chief Abdel Fattah al-Sisi is set to secure six more years.

All eyes are now on the U.S. November non-farm payrolls data due at 1330 GMT that could determine the outlook for monetary policy out of the world's largest economy.

(Reporting by Johann M Cherian in Bengaluru, Editing by Angus MacSwan)