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Business News/ Markets / Stock Markets/  Rupee gains 11 paise to end at 83.29 against US dollar
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Rupee gains 11 paise to end at 83.29 against US dollar

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.18% lower at 103.31.

Rupee ended at 83.29 a dollar as compared to its previous close of 83.40. (Image: Shutterstock)Premium
Rupee ended at 83.29 a dollar as compared to its previous close of 83.40. (Image: Shutterstock)

The Indian rupee ended 11 paise higher against the US dollar on Friday amid a softer greenback and strong domestic economic data. The local currency ended at 83.29 a dollar as compared to its previous close of 83.40.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.18% lower at 103.31.

On Thursday, the rupee settled 7 paise lower at a record closing low of 83.40 a dollar.

For the week, the rupee appreciated by 0.1%.

India's gross domestic product (GDP) growth of 7.6% during July-September beat most estimates, including 6.5% projected by the Reserve Bank of India (RBI), retaining the country's tag of the world's fastest-growing major economy.

Gains in domestic equity market amid foreign fund inflows and easing crude oil prices also supported the local currency.

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Global oil benchmark Brent crude futures declined 0.25% to $80.66 per barrel.

On the domestic front, the equity market witnessed healthy gains on Friday, with the benchmark Nifty 50 hitting its fresh record high in the intraday session on all-round buying after India's Q2 GDP numbers exceeded expectations.

The Sensex ended 492.75 points, or 0.74%, higher at 67,481.19, while the Nifty 50 rose 134.75 points, or 0.67%, to settled at 20,267.90.

On Thursday, the Foreign institutional investors (FIIs) net bought Indian shares worth 8,147.85 crore, while Domestic Institutional Investors (DIIs) net sold shares to the tune of 780.32 crore, as per provisional data available on the exchanges.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 01 Dec 2023, 11:01 AM IST
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