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Rupee ends higher against US dollar on Friday
Jul-26-2024

Indian rupee ended higher against the US dollar on Friday amid strength in the domestic markets and expectations of fresh foreign inflows. Traders got encouragement as Reserve Bank of India Deputy Governor M Rajeshwar Rao said Indian financial system looks stronger than in the past and the country's economy is an outlier even as strong headwinds globally. Some support also came with DIPAM Secretary Tuhin Kanta Pandey's statement that the focus of the government will be to improve the performance of CPSEs with a view to maximise wealth creation and not to push disinvestment just to meet targets. On the global front, the pound rose on Friday but was still headed for a second consecutive weekly fall against the dollar after a week of turmoil across global markets hit higher-yielding assets and as investors switch focus to next week's Bank of England meeting.

Finally, the rupee ended at 83.74 (Provisional), stronger by 4 paise from its previous close of 83.78 on Thursday. The currency touched a high and low of 83.73 and 83.69 respectively.

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