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Rupee appreciates against dollar on Friday
Apr-19-2024

Indian rupee ended higher against the U.S. dollar on Friday tracking a strong rebound in domestic equities. Investors got support as India's Economic Affairs Secretary Ajay Seth to World Bank has said that despite a challenging global scenario, India's economy has shown robust growth over the past year backed by sustained consumption and investment demand. Traders overlooked the report that India's trade deficit with the Association of Southeast Asian Nations (ASEAN) has surged, more than doubling since the implementation of the Free Trade Agreement (FTA) in 2010. According to figures released by the Ministry of Commerce and Industry, India's exports to ASEAN member countries stood at $25,627.89 million in the year 2010-11, while imports from these nations amounted to $30,607.96 million. On the global front, the pound was little changed on Friday after falling to a five-month low against the dollar in Asian trading hours as investors responded to reports of an Israeli attack on Iran.

Finally, the rupee ended at 83.47 (Provisional), stronger by 5 paise from its previous close of 83.52 on Thursday. The currency touched a high and low of 83.58 and 83.46 respectively.

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