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Rupee end higher for second straight session

27 Apr 2021 Evaluate

Indian rupee ended significantly higher against dollar on Tuesday, on persistent selling of the American currency by exporters. This was the second consecutive session when the rupee was traded higher against dollar. Sentiments were upbeat as bank credit grew by 5.33 per cent to Rs 108.89 lakh crore, and deposits rose 10.94 per cent to Rs 152.15 lakh crore in the fortnight ended April 9, 2021. In the fortnight ended April 10, 2020, bank advances stood at Rs 103.38 lakh crore and deposits were Rs 137.15 lakh crore. Besides, healthy gains in the domestic equity markets also added to the rupee. On the global front; sterling slipped against the dollar on Tuesday, but remained within the previous session's ranges and stabilised against the euro, still struggling to regain the momentum it had in the first quarter of 2021.

Finally, the rupee ended 74.66, stronger by 7 paise from its previous close of 74.73 on Monday. The currency touched a high and low of 74.73 and 74.51 respectively.

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