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Rupee settles higher against dollar on Thursday
Sep-12-2024

Indian rupee settled higher on Thursday amid a positive trend in domestic equities and foreign fund inflows. Some support came as Finance Minister Nirmala Sitharaman said the Union government is implementing various schemes to encourage the growth and development of MSME (Micro, Small and Medium Enterprises) sector across the country. She said these schemes include areas of credit support, formalization, technological assistance, infrastructure development, skill development and training and market assistance for the MSMEs. On the global front, British pound was steady on Thursday after hitting a three-week low against the dollar the day before after data showed the UK economy stagnated in July, while focus turned to next week's key inflation print and central bank meeting.

Finally, the rupee ended at 83.97 (Provisional), stronger by 2 paise from its previous close of 83.99 on Wednesday. The currency touched a high and low of 83.99 and 83.95 respectively.

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