Indian rupee has strengthened against the US dollar on Wednesday as investors remained optimistic as Reserve Bank of India (RBI) upgraded India’s GPD growth estimates for FY27 to 6.6% from earlier 6.5%. Moreover, the RBI lowered its CPI inflation forecast for FY27 by 10 basis points to 5% from 5.1% projected in the June monetary policy review. Besides, persistent foreign capital inflows in Indian market also added to the rupee’s strength. Foreign institutional investors were the net buyers of securities worth Rs 2,446.47 crore on Tuesday’s session. On the global front, the British pound has strengthened against the US dollar on Wednesday amid rising hopes of US-Iran peace deal.
Finally, the rupee ended at 95.08 (Provisional), strengthened by 20 paise from its previous close of 95.28 on Tuesday. The currency touched a high and low of 95.25 and 94.89 respectively.
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