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Rupee strengthens against US dollar on Thursday

23 Mar 2023 Evaluate
Indian rupee strengthened against the US dollar on Thursday amid weakness in American currency at overseas markets followed by the US Federal Reserve’s 25 bps rate hike as widely expected. Moreover, inflow of foreign funds in to capital market and declining falling crude oil prices also supported rupee sentiments. Foreign Institutional Investors (FIIs) turned net buyers in the domestic capital market on Wednesday as they purchased shares worth Rs 61.72 crore, exchange data showed. The foreign exchange market was closed yesterday on the occasion of Gudi Padwa.

The partially convertible currency is currently trading at 82.16, stronger by 43 paise from its previous close of 82.59 on Tuesday. The currency touched a high and low of 82.41 and 82.08 respectively.

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