Rupee strengthens against US dollar in early trade on Wednesday
The partially convertible currency is currently trading at 93.32, stronger by 03 paise from its previous close of 93.35 on Monday
Indian rupee strengthened against the US dollar in early trade on Wednesday supported by falling crude oil prices and a weaker US dollar, along with optimism about the possible restart of peace talks between the US and Iran. Besides, some support came as International Monetary Fund (IMF) stated that India’s economy is expected to grow a tad faster at 6.5 per cent in 2027 despite escalating tensions in West Asia. Moreover, traders were looking forward to Wholesale Price Index (WPI) data for March, to be out later in the day. Meanwhile, forex markets were closed for trading on Tuesday on account of Dr. Baba Saheb Ambedkar Jayanti.
The partially convertible currency is currently trading at 93.32, stronger by 03 paise from its previous close of 93.35 on Monday. The currency touched a high and low of 93.34 and 93.13 respectively.
