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Rupee ends higher against dollar on Monday

06 Mar 2023 Evaluate

Indian rupee ended higher against dollar on Monday, as a positive trend in domestic equities and fresh foreign fund inflows boosted investors’ sentiments. The National Stock Exchange's provisional data showed that foreign institutional investors (FII) bought shares worth Rs 246.24 crore on March 3. Besides, Commerce and Industry Minister Piyush Goyal said India's goods and services exports are expected to cross $750 billion this fiscal despite the global economic uncertainties. On the global front, U.S. dollar eased on Monday as investors awaited testimony from Federal Reserve Chair Jerome Powell ahead of the February jobs report at the end of the week that will likely influence how much more the U.S. central bank will raise interest rates.

Finally, the rupee ended at 81.92 (Provisional), stronger by 5 paise from its previous close of 81.97 on Friday. The currency touched a high and low of 81.95 and 81.62 respectively.

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