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Indian rupee trades stronger against US dollar
Jan-15-2025

Indian rupee traded stronger against US dollar on Wednesday as the dollar index eased and crude oil prices slipped. The dollar index eased to 109.24, nearly 1% below its multi-year high earlier this week. This decline supported the rupee and other emerging market currencies. Traders took note of a report by the State Bank of India (SBI) said the Indian rupee may experience some volatility in the early days of Donald Trump’s presidency, but it is likely to stabilise soon after, terming this short-term phenomenon as Trump Tantrum. However, gains remained capped amid foreign fund outflows. Foreign institutional investors (FIIs) offloaded equities worth Rs 8,132.26 crore on Tuesday. On the global front, the dollar's rally got a hit on Wednesday as traders turned cautious ahead of a closely watched U.S. consumer inflation report due later in the day, while the yen pulled ahead following remarks from Japan's central bank chief.

The partially convertible currency is currently trading at 86.49, stronger by 4 paise from its previous close of 86.53 on Tuesday. The currency touched a high and low of 86.5550 and 86.4650 respectively.


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