25-10-2023 11:59 AM | Source: Accord Fintech
Rupee strengthens against US dollar on Wednesday
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Indian rupee strengthened against the US dollar on Wednesday tracking softening crude oil prices at overseas markets and as global leaders continued their efforts to prevent the Israel-Hamas war from spreading. Moreover, a weak American currency, pullback in US Treasury yields and RBI’s intervention also supported rupee sentiments. FIIs bought equities worth Rs 252.25 crore on Monday, exchange data showed. Forex markets were closed on Tuesday on account of Dussehra. However, concerns over potential for additional US Federal Reserve interest rate hikes limited further gains in rupee.
The partially convertible currency is currently trading at 83.14, stronger by 2 paise from its previous close of 83.16 on Monday. The currency touched a high and low of 83.1425 and 83.0875 respectively.
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