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Indian rupee appreciates against US dollar on Monday
Nov-18-2024

Indian rupee appreciated against the US dollar on Monday backed by a retreating American currency. Traders took support as Moody's Ratings has said that Indian economy is in a sweet spot, with a mix of solid growth and moderating inflation, and forecasted a 7.2 per cent Gross Domestic Product (GDP) growth in the 2024 calendar year followed by 6.6 per cent in 2025 and 6.5 per cent in 2026. On the global front, dollar rose against the yen on Monday after Japan’s top central banker flagged further policy tightening ahead but left open the question of timing, leaving the market no clearer on whether a move would come next month.

Finally, the rupee ended at 84.40 (Provisional), appreciated by 6 paise from its previous close of 84.46 on Thursday. The currency touched a high and low of 84.42 and 84.37 respectively.


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