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Rupee ends higher against dollar on Tuesday

28 Nov 2023 Evaluate

Indian rupee ended higher against dollar on Tuesday amid positive sentiment in the equity markets and inflow of foreign funds. Investors got support as Reserve Bank of India (RBI) in its latest data showed that India's foreign exchange reserves increased by $5.077 billion to $595.397 billion for the week ending November 17. Besides, S&P Global Ratings raised India's growth forecast for the current financial year to 6.4 per cent, from 6 per cent, saying that robust domestic momentum has offset headwinds from high food inflation and weak exports. On the global front, the Russian rouble firmed on Tuesday, hovering close to a multi-month high, supported by exporters paying monthly taxes as the market assessed a central bank announcement that it would adjust its formula for currency interventions in the new year.

Finally, the rupee ended at 83.34 (Provisional), higher by 6 paise from its previous close of 83.40 on Friday. The currency touched a high and low of 83.39 and 83.32 respectively.


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