Rupee appreciates against dollar on Thursday
Indian rupee appreciated against the U.S. dollar on Thursday on weakness in the U.S. dollar index and on reports of the Reserve Bank of India's supposed intervention. Traders took support as Fitch Ratings has raised India's GDP growth forecast for the current fiscal (FY26) to 7.4 per cent, from 6.9 per cent in September, on increased consumer spending and improved sentiment boosted by GST reforms. It said GDP growth accelerated further in the July-September quarter to 8.2 per cent, from 7.8 per cent in the April-June quarter. It also expects GDP growth to slow to 6.4 per cent in FY27. On the global front, Australian dollar strengthened against other major currencies in the Asian session on Thursday, after Australia posted a merchandise trade surplus in October.
Finally, the rupee ended at 89.90 (Provisional), appreciated by 25 paise from its previous close of 90.15 on Wednesday. The currency touched a high and low of 90.43 and 89.88 respectively.
