2026-06-24 02:21:54 pm | Source: Accord Fintech
Rupee strengthens against US dollar in early trade on Wednesday
Indian rupee strengthened against the US dollar in early trade on Wednesday even as the American currency stayed broadly firm amid rising expectations that the Federal Reserve could adopt a more hawkish stance in order to contain inflationary pressures. The upcoming US PCE inflation report, the Feds preferred gauge, will be closely watched this week for further clarity. Rupee got support from a sharp drop in Brent crude oil prices, which fell below $77 per barrel, as a growing number of tankers resumed transit through the Strait of Hormuz amid advances in US-Iran peace negotiations. Meanwhile, Foreign institutional investors (FIIs) purchased equities worth Rs 17.86 crore on a net basis on Tuesday, exchange data showed.
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