Indian Rupee Ends At Day's High Against U.S. Dollar

Rupee opened at 82.75, appreciating 5 paise against the U.S. dollar.

<div class="paragraphs"><p>Indian rupee banknotes arranged for photograph. (Source: Unsplash)</p></div>
Indian rupee banknotes arranged for photograph. (Source: Unsplash)

The Indian rupee strengthened against the U.S. dollar on Thursday.

The local currency opened at 82.75 against the U.S. dollar, appreciating 5 paise against Wednesday's close of 82.80.

Intraday, the rupee strengthened as much as 0.31%, or 25 paise, to 82.55 apiece and ended at the day's high.

This is the biggest intraday rise for the rupee since Dec. 14, when it jumped 36 paise.

"The U.S. dollar slipped by 0.4% yesterday after the FOMC meeting minutes failed to provide any new information about the size of its expected rate hike in the upcoming meeting," ICICIDirect said in a daily currency strategy note. "Further, ISM manufacturing PMI data showed activity in the sector contracted for a second consecutive month."