Indian rupee ended higher against the US dollar on Friday backed by renewed foreign fund inflows. Traders got support as the Reserve Bank of India (RBI) in its Financial Stability Report (FSR) has said that India’s economy and its financial system are both strong and resilient. This stability is supported by strong macroeconomic fundamentals and a sound financial system. The RBI points out that with healthier balance sheets, banks and financial institutions in India are actively supporting economic activities through consistent credit expansion. On the global front, the yen weakened on Friday amid broad strength in the greenback, raising the specter of Japan intervening in the market.
Finally, the rupee ended at 83.36 (Provisional), stronger by 9 paise from its previous close of 83.45 on Thursday. The currency touched a high and low of 83.49 and 83.36 respectively.
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