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Bloomberg Quint

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Image Credit: Bloomberg Quint

Rupee Closes Stronger Against Dollar For Third Session Amid Global Trade Uncertainties And Softening Inflation

  • The Indian rupee closed at 85.68 against the US dollar, extending its slip below the psychological level of 86 for the second session.
  • The rupee appreciated by nine paise at market close on Wednesday, supported by easing inflation, a sliding dollar index, and lower oil prices.
  • India's industrial production growth slowed to 2.9% in February, the weakest in six months, signaling a loss in domestic economic momentum.
  • Lower crude prices bode well for the rupee, as India is a large importer.

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