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Rupee strengthens against US dollar on Wednesday

12 Apr 2023 Evaluate
Indian rupee strengthened against the US dollar on Wednesday tracking firm domestic equities and foreign fund inflows with data showed that Foreign Institutional Investors were net buyers in the capital market as they purchased shares worth Rs 342.84 crore on Tuesday. Although, investors are cautiously awaiting India's CPI data. On the global front, the US dollar weakened ahead the release of the March US consumer price inflation data, that could provide clues on the path of US Federal Reserve interest rate hikes.

The partially convertible currency is currently trading at 82.08, stronger by 4 paise from its previous close of 82.12 on Tuesday. The currency touched a high and low of 82.11 and 82.0150 respectively.

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