Indian Rupee Strengthens Against The U.S. Dollar
The rupee ends at 81.62, appreciating 23 paise against the U.S. dollar.
The Indian rupee appreciated against the U.S. dollar on Thursday.
The local currency opened at 81.68, strengthening 0.2% or 17 paise against the greenback. It closed at 81.85 on Wednesday.
Intraday, the rupee gained as much as 0.30% to 81.60. At close, it traded 0.27% or 23 paise higher at 81.62.
"U.S. dollar declined yesterday amid a rise in risk appetite in the global markets, disappointing economic data from the U.S., and fall in U.S. treasury yields," ICICI Direct said in a pre-market strategy report.
The rupee had hit a record low of 83.29 on Oct. 20.
"Attempts to head to 82 persisted, but failed to gain enough momentum. Sideways trades could continue to persist, but a bearish [dollar-rupee] bias may now emerge aiming for 81.4, and we would look to buy [dollar-rupee] only once well below this, or above 82," said James Anand, chief market strategist at Geojit Financial Services Ltd.
