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Rupee ends higher against greenback on Thursday
Apr-25-2024

Indian rupee ended higher on Thursday with the support from positive domestic equities. Traders took note of report that RBI Monetary Policy Committee (MPC) member Ashima Goyal said the problem of high food inflation will be 'less severe' in India going ahead, as modern supply chains with diversified sources can help quickly address sudden spikes in prices of specific food items. Meanwhile, Comprehensive Economic Partnership Agreement (CEPA) Council Director Ahmed Aljneibi has said that the trade between India and UAE increased 15 per cent since the implementation of the free trade agreement in May 2022 and the both are on track to surpass the target of $100 billion in non-oil trade by 2030. On the global front, yen hit a fresh 34-year low versus the dollar and a 16-year low against the euro on Thursday as investors expect a Bank of Japan policy meeting that ends on Friday to not be hawkish enough to support the Japanese currency.

Finally, the rupee ended at 83.32 (Provisional), stronger by 1 paisa from its previous close of 83.33 on Wednesday. The currency touched a high and low of 83.40 and 83.31 respectively.


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