Indian Rupee gains strength, tracking Asian peers amidst equity inflows
On Wednesday, the Indian rupee appreciated against the US dollar, marking a significant shift in its recent trajectory.
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On Wednesday, the Indian rupee appreciated against the US dollar, marking a significant shift in its recent trajectory.
The Indian currency has been hovering near the 84 per dollar mark, a level that analysts suggest could act as a psychological threshold in the near term.
Opening the day at the same level as its previous close, the rupee traded within a narrow band against the dollar.
At 11:02 AM IST, the rupee stood at 82.9750 per dollar, down from 82.88 in the previous session. While marking a minor depreciation, the rupee's fall was considerably less pronounced than the dive experienced by other Asian currencies.