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Rupee appreciates on Wednesday amid positive cues from domestic markets
Jan-29-2025

Indian rupee appreciated on Wednesday supported by positive domestic equities. Traders took support with the Reserve Bank stating that it will conduct a USD/INR buy-sell swap auction of $5 billion (about Rs 43,000 crore) on January 31, as part of its over Rs 1.5 lakh crore liquidity injection into the banking system. Meanwhile, ahead of Union Budget on February 1, a quick survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) noted that about 64 per cent of industrialists expressed optimism regarding India’s growth. On the global front, dollar steadied on Wednesday ahead of the U.S. Federal Reserve’s policy decision, with investors on edge for hints of how much interest rates might fall this year, while they broadly expect the central bank to keep policy unchanged for now.

Finally, the rupee ended at 86.56 (Provisional), appreciated by 1 paisa from its previous close of 86.57 on Tuesday. The currency touched a high and low of 86.61 and 86.49 respectively.

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