Indian rupee ended higher against dollar on Thursday amid weak greenback overseas and a rally in domestic equities. This is the second consecutive session when the rupee is traded higher against dollar. Sentiments were upbeat as Managing Director of the International Monetary Fund Kristalina Georgieva said a high growth rate for India, as projected in the latest World Economic Outlook, is not only healthy for the country but also positive news for the world. In another positive development, Service Export Promotion Council (SEPC) stated that services sector exports are likely to touch $350 billion in the current fiscal. It said the target has been revised from $300 billion to $350 billion for 2022-23 and is set in consideration to the sectors which couldn't perform in the last 2 years due to the pandemic and hopefully will bounce back in FY23. On the global front, series of hawkish comments amplified bets that the European Central Bank would soon hike interest rates, lifting the euro to a one-week high on Thursday amid expectations French President Emmanuel Macron would win his reelection bid on Sunday.
Finally, the rupee ended at 76.17 (Provisional), stronger by 13 paise from its previous close of 76.30 on Wednesday. The currency touched a high and low of 76.36 and 76.09 respectively.
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