Indian rupee strengthened against the dollar on Thursday, tracking the weakness of the American currency in the overseas market. Traders took support with private report stating that India’s exports of goods and services could touch $900 billion in the current financial year, up from $770 billion in the previous year, keeping resilient despite global headwinds. Besides, another private report stated that as many as 163 Indian companies have invested more than $40 billion in the United States so far which has created nearly 425,000 jobs in the country. On the global front, British pound was steady against the dollar on Thursday having hit an 11-month high overnight after the Federal Reserve raised rates but signalled an end to its tightening cycle is in sight.
Finally, the rupee ended at 81.78 (Provisional), stronger by 2 paise from its previous close of 81.80 on Wednesday. The currency touched a high and low of 81.84 and 81.65 respectively.
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