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Rupee appreciates against US dollar on Friday
Dec-20-2024

Indian rupee appreciated against the US dollar on Friday despite massive selling in the domestic equity market. Traders got some support as the Central government has released Rs 47,225 crore to the states and union territories under the Smart Cities Mission till November 15 and out of which Rs 44,626 crore has been utilised. Union Minister of State for Housing and Urban Affairs Tokhan Sahu said the work orders have been issued till November 15 in 8,066 crore amounting to Rs 1,64,669 crore, of which 7,352 projects (i.e. 91 per cent of total projects) amounting to Rs 1,47,366 crore have been completed under the mission. On the global front, dollar edged down on Friday but hovered near a two-year high and looked set to wrap up its third week of gains while markets digested a raft of global central bank action and the looming risk of a U.S. government shutdown.

Finally, the rupee ended at 85.01 (Provisional), appreciated by 12 paise from its previous close of 85.13 on Thursday. The currency touched a high and low of 85.12 and 84.95 respectively.

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