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Rupee strengthens against US dollar on Thursday

27 Apr 2023 Evaluate
Indian rupee strengthened against the US dollar on Thursday tracking the fall of crude oil prices below $80 a barrel and weakness in American currency at overseas market. Moreover, foreign fund inflows into capital market also supported rupee sentiments. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they bought shares worth Rs 1,257.48 crore, exchange data showed. On the global front, investors are cautiously waiting for the release of the first quarter GDP data of the United States for hints on Federal Reserve’s next move on interest rates.

The partially convertible currency is currently trading at 81.67, stronger by 7 paise from its previous close of 81.74 on Wednesday. The currency touched a high and low of 81.74 and 81.64 respectively.

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