Rupee increased by 1 paisa to 83.29 against the US dollar.

Amidst persistent outflows of foreign funds and a downward trend in domestic stocks, the rupee remained range-bound and ended the day 1 paisa higher at 83.29 vs the US dollar on Thursday. The rupee began trading at 83.25 versus the US dollar at the interbank foreign exchange and ended at 83.29, up 1 paisa from its previous finish.

In relation to the US dollar, the rupee saw range-bound trading throughout the day, peaking at 83.25 and falling to 83.29. The rupee’s closing value versus the US dollar on Wednesday was 83.30. In the near future, it is anticipated that the pair will continue to range trade between Rs.82.80 and Rs.83.50.

During his statement on Wednesday, US Federal Reserve Chair Powell remained silent regarding the direction of the Fed’s monetary policy. He will take part in a panel discussion on the difficulties facing monetary policy on Thursday.

The dollar index, which measures the strength of the US dollar relative to a basket of six other currencies, was down 0.01 percent at 105.58 in the meantime. The benchmark for global oil, Brent crude futures, up 0.96 percent to USD 80.30 a barrel.

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