Indian rupee makes a strong start on Thursday
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Indian rupee has made a strong start on Thursday buoyed by hopes of a diplomatic solution from the planned talks between Russia and Ukraine. Easing crude oil prices and softer dollar also supported rupee. Crude oil showed highest single day fall in last two years after OPEC+ member the United Arab Emirate said it supporting pumping more oils into the markets which in supply crunch due to sanctions on Russian oil by the United States. If OPEC+ nations agreed to increase production could restrict gains of crude oil in upcoming session. On the global front, US President Joe Biden signed an executive order on Wednesday requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues.
The partially convertible currency is currently trading at 76.21, stronger by 41 paise from its previous close of 76.62 on Wednesday. The currency touched a high and low of 76.27 and 76.20 respectively.
