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Rupee strengthens against US dollar on Thursday

13 Jul 2023 Evaluate

Indian rupee strengthened against the US dollar on Thursday, tracking weaker American currency in the global market followed by softer-than-expected US inflation data. Moreover, firm domestic equities amid encouraging macroeconomic data also supported rupee sentiments. Data showed industrial production rose to 5.2% in May from 4.5% in April 2023. However, Foreign Institutional Investors (FIIs) emerged as net sellers in the capital markets on Wednesday as they sold shares worth Rs 1,242.44 crore, exchange data showed.

The partially convertible currency is currently trading at 82.06, stronger by 12 paise from its previous close of 82.18 on Wednesday. The currency touched a high and low of 82.07 and 81.9550 respectively.


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