Indian Rupee Gains Ground Against USD, Riding on Inflation Surprises and Export Surge.
The Indian Rupee closed at 83.25 against USD last week, representing a 0.25% appreciation. Higher than expected inflation along with an increase in exports and foreign exchange reserves helped push the Rupee to stronger levels against the dollar.
Published on 21 May 2024
Last week, the Indian Rupee strengthened to 83.25 against the USD, bolstered by unexpected inflation figures, a surge in exports, and a bolstered foreign exchange reserve, marking a 0.25% appreciation.
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