The Indian rupee closed 0.18% higher against the U.S. dollar on Thursday, reversing the sharp fall it witnessed a day prior.
The rupee started at 79.78 against the greenback, strengthening as much as 79.70 intraday and and rose 19 paise (0.24%) to 79.71 during the session. The Indian currency closed at 79.76 against the U.S. dollar. In percentage terms, Rupee appreciated most since May 20 on Thursday. closing at 79.75. In comparison, it had closed at 79.90 on Wednesday.
The gains come as the Federal Reserve hiked rates on largely expected lines.
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