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Rupee ends marginally higher on Thursday

09 Jan 2025 Evaluate

Indian rupee ended marginally higher against the US dollar on Thursday due to fresh selling of the American currency by banks and exporters. Traders took some support with reports that the United Nations kept its growth forecast for the Indian economy unchanged at 6.6 percent for 2025, as it noted that private investment and consumption along with strong export growth of services and technology will help sustain the momentum. However, relentless selling in domestic equities and outflow of foreign capital kept the local unit under pressure. Foreign institutional investors (FIIs) offloaded Rs 3,362.18 crore in the capital markets on a net basis on Wednesday, according to exchange data. On the global front, the US dollar steadied Thursday, underpinned by rising Treasury yields after hawkish comments from the Federal Reserve and strong economic data furthered bets on a slower pace of rate cuts. 

Finally, the rupee ended at 85.86 (Provisional), stronger by 5 paise from its previous close of 85.91 on Wednesday. The currency touched a high and low of 85.94 and 85.84 respectively.


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