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Rupee witness high volatility against US dollar on Wednesday

22 Jan 2025 Evaluate
Indian rupee strengthened marginally but witnessed high volatility against US dollar on Wednesday as markets remain cautious amid ongoing global uncertainties and tariff threats by US President Donald Trump, while data showing that foreign investors sold more than $7 billion during this month. Foreign Institutional Investors remained net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 5,920.28 crore, exchange data showed. US President Donald Trump vowed to hit the European Union with tariffs and said his administration was discussing a 10% punitive duty on Chinese imports probably from February because fentanyl is being sent from China to the US via Mexico and Canada.

The partially convertible currency is currently trading at 86.57, stronger by 1 paisa from its previous close of 86.58 on Tuesday. The currency touched a high and low of 86.71 and 86.5375 respectively.

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