(Newshub Desk ) In a positive turn for India’s currency market, the rupee strengthened by 28 paise against the US dollar on Wednesday, reflecting improved investor sentiment and strong foreign exchange reserves.
The domestic unit opened at 83.45 per dollar and climbed to 83.17 by midday trading, boosted by fresh foreign inflows and stable crude oil prices.
Analysts suggest that easing inflation data and the Reserve Bank of India’s cautious approach to monetary policy have supported the rupee’s recovery.
Market experts forecast further stability in the currency movement, barring global volatility.
Meanwhile, the US Federal Reserve’s upcoming policy decision remains a key factor in shaping exchange rate trends.
The rupee’s resilience comes as India continues to attract foreign direct investments and maintain robust economic growth, strengthening confidence among investors.
