2025-02-13 12:19:08 pm | Source: Accord Fintech
Rupee strengthens against US dollar on Thursday
Indian rupee strengthened against the US dollar on Thursday on the back of weak American currency and receding crude oil prices overseas. However, some gains were limited by foreign fund outflows from the Indian capital market and as stronger than expected US inflation data raised the expectations that the US Federal Reserve will hold interest rates higher for longer. Foreign Institutional Investors offloaded equities worth Rs 4,969.30 crore on net basis on Wednesday, according to exchange data.
The partially convertible currency is currently trading at 86.87, stronger by 8 paise from its previous close of 86.95 on Wednesday. The currency touched a high and low of 86.90 and 86.77 respectively.
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