Indian rupee appreciated against the US dollar on Friday on the back of strong FII inflows and firm domestic equity markets. Foreign Institutional Investors (FIIs) bought equities worth Rs 12,594.38 crore on Thursday. Some support came in as RBI in its report said that the sales of listed manufacturing sector companies rose by 6 per cent during 2024-25 as compared to 3.5 per cent growth in the preceding year, mainly led by automobiles, electrical machinery, food and beverages, and pharmaceuticals industries. Traders took a note of private report that the Indian economy will grow at a mostly steady pace this fiscal year and next after marking a four-year low in 2024-25. On the global front, dollar held around three-year lows on Friday as traders ramped up bets on US interest rate cuts, especially after Trump hinted at replacing Fed chief Jerome Powell.
Finally, the rupee ended at 85.51 (Provisional), appreciated by 21 paise from its previous close of 85.72 on Thursday. The currency touched a high and low of 85.65 and 85.43 respectively.
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