HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee ends higher against dollar
Nov-23-2024

Indian rupee ended higher on Friday on selling of dollars by banks and exporters. Local currency got some support with ICRA’s report stating that India’s economy is projected to grow at a faster pace in the third quarter of the current financial year (October-December 2024) compared to the first half of current financial year (April-September 2024). It stated that this optimism is based on improving economic indicators and robust activity levels in various sectors. A rebound in the equity markets offered some support, but the currency faced pressure from global factors including the strengthening of the dollar and geopolitical tensions. On the global front, the U.S. dollar stuck close to a 13-month high on Friday as investors assessed the outlook for the Federal Reserve's interest rate path and uncertainty in Europe kept the euro on the back foot. The yen, meanwhile, held its ground against the greenback after domestic core inflation figures remained above the Bank of Japan's (BOJ) 2% target in a sign conditions for further interest rate hikes were falling in place.  

Finally, the rupee ended at 84.43 (Provisional), appreciated 8 paise from its previous close of 84.50 on Thursday. The currency touched a high and low of 84.51 and 84.37 respectively. 


  RELATED NEWS >>