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Rupee strengthens against US dollar on Friday

11 Nov 2022 Evaluate
Indian rupee strengthened against the US dollar on Friday, as cooler than expected US inflation data fuelled hopes that the US Federal Reserve could tone down its aggressive pace of interest rate hikes. Moreover, firm domestic equities, foreign fund inflows, weaker US dollar index and weakness in crude oil prices also supported rupee sentiments. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth Rs 36.06 crore, exchange data showed.

The partially convertible currency is currently trading at 80.68, stronger by 72 paise from its previous close of 81.40 on Thursday. The currency touched a high and low of 80.9975 and 80.5850 respectively.

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