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Rupee appreciates on Thursday amid selling of American currency

20 Feb 2025 Evaluate

Indian rupee appreciated against the U.S. dollar on Thursday, supported by weakening of American currency in the overseas market. Traders took support as S&P Global Ratings has said the impact of the US reciprocal tariff will be limited on India as the economy is domestically oriented with less reliance on exports. YeeFarn Phua, Director, Sovereigns and International Public Finance Ratings, Asia-Pacific S&P Global also said India will clock a 6.7-6.8 per cent GDP growth over the next two years. On the global front, Japanese yen strengthened against other major currencies on Thursday, amid rising bets that the Bank of Japan (BoJ) would hike interest rates further. 

Finally, the rupee ended at 86.64 (Provisional), appreciated by 34 paise from its previous close of 86.98 on Wednesday. The currency touched a high and low of 86.88 and 86.58 respectively.

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