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Rupee appreciates on Wednesday amid positive cues from domestic markets
Mar-05-2025

Indian rupee appreciated on Wednesday, supported by positive domestic equities. Traders got support as India’s services sector activity expanded sharply in the month of February, boosted by improving domestic and international demand. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index jumped to 59.0 in February from 56.5 in January. Further, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also surged to 58.8 in February as against 57.7 in January. On the global front, euro strengthened against other major currencies on Wednesday, as traders reacted positively to news about the German government's plans to increase defense and infrastructure spending.

Finally, the rupee ended at 87.08 (Provisional), appreciated by 11 paise from its previous close of 87.19 on Tuesday. The currency touched a high and low of 87.20 and 86.93 respectively.

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