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Rupee ends higher against greenback on Monday

12 Feb 2024 Evaluate

Indian rupee ended higher on Monday on softness in the American currency and easing crude oil prices. Investors got support as Central Board of Direct Taxes (CBDT) has said that net direct tax collection so far in current fiscal grew 20 per cent year-on-year to Rs 15.60 lakh crore, which is 80 per cent of revised budget estimates for full fiscal year. Meanwhile, Commerce and Industry Minister Piyush Goyal has said that India continues to be a preferred FDI (foreign direct investment) destination despite soaring global interest rates. On the global front, Russian rouble steadied on Monday, held up by relatively high oil prices, as exporters start converting foreign currency revenues in preparation for month-end tax payments.

Finally, the rupee ended at 83.00 (Provisional), stronger by 7 paise from its previous close of 83.07 on Friday. The currency touched a high and low of 83.02 and 82.98 respectively.

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