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Rupee strengthens against US dollar on Thursday

13 Apr 2023 Evaluate
Indian rupee strengthened against the US dollar on Thursday after data showing that India’s retail inflation in March declined to a 15-month low of 5.66% and came back to the Reserve Bank’s comfort level of 6%. Moreover, foreign fund inflows into the Indian capital market and expectations of pause in rate hikes amid softer-than-expected US inflation data also supported the domestic unit. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth Rs 1,907.95 crore, exchange data showed. 

The partially convertible currency is currently trading at 81.99, stronger by 12 paise from its previous close of 82.11 on Wednesday. The currency touched a high and low of 82.01 and 81.9350 respectively.

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