The Indian rupee gained 39 paise against the US dollar, opening at 82.54 and settling at 82.36 on Thursday. This increase in the value of the rupee can be attributed to positive macroeconomic data, such as the Centre’s fiscal deficit narrowing to 6.4% of the GDP and the country’s economy growing by 6.1% in the March quarter. This growth was largely due to better performance by agriculture, manufacturing, mining, and construction sectors. The dollar index, which measures the greenback’s strength against a basket of six currencies, fell by 0.09%, while Brent crude futures, the global oil benchmark, declined by 1.20% to $72.66 per barrel. The 30-share BSE Sensex and the broader NSE Nifty also rose by 0.08% and 0.12%, respectively. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday, purchasing shares worth Rs 3,405.9 crore, as per exchange data. While the given economic releases highlighting domestic activity showcase resilience, uncertainties globally, such as the banking crisis, Fed’s return to rate hikes and geopolitical concerns, could affect the growth trajectory.
Rupee Surges 39 Paise to 82.36 Against US Dollar in Latest Indian News
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