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Rupee strengthens against dollar on Thursday
May-21-2026

Indian rupee strengthened against the U.S. dollar on Thursday as global crude oil prices retreated amid signs of easing tensions between US and Iran after US President Trump said that the US was in the final stages of negotiations with Iran. Besides, investors were optimistic after the Ministry of Commerce & Industry in its latest data showed that eight key infrastructure sectors’ output growth rose to a two-month high of 1.7% in April 2026, supported by higher output of steel, cement and electricity. The eight core sectors had recorded a growth of 1% in the same month last year, while the expansion rate stood at 1.2% in March 2026.  On the global front, the euro has weakened against the U.S. dollar on Thursday, after S&P Global flash PMI data showed that the euro area economy unexpectedly contracted in May at the fastest pace since late 2023.

Finally, the rupee ended at 96.36 (Provisional), strengthened by 50 paise from its previous close of 96.86 on Wednesday. The currency touched a high and low of 96.60 and 96.05 respectively.

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