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Rupee appreciates against dollar on Monday
Apr-22-2024

Indian rupee ended higher against the U.S. dollar on Monday on positive domestic markets and a soft American currency. Traders took support as Central Board of Direct Taxes (CBDT) has said that India's net direct tax collections surged by a massive 17.7 per cent year-on-year to Rs 19.58 trillion in the fiscal year ended March 2024, surpassing even revised estimates by a wide margin. Besides, the Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional payroll data’ report has showed that 15.48 lakh net members have been added in the month of February 2024. On the global front, the dollar held steady against the euro and the yen on Monday after the most volatile week of trading for the currency market in months, as investors assessed policy and geopolitical developments. The market is laser-focused on the yen ahead of the Bank of Japan's (BOJ) policy review on Friday.

Finally, the rupee ended at 83.36 (Provisional), stronger by 8 paise from its previous close of 83.44 on Friday. The currency touched a high and low of 83.45 and 83.32 respectively.

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