Indian Rupee Surges, Forex Resilience Defies Global Slowdown
The Indian Rupee closed at 83.0 against USD last week, representing a 0.25% appreciation. An uptick in foreign exchange reserves was teamed with very strong economic activity PMIs as the Indian economy continues to impress with its resilience against a slowing global economy.
Published on 28 May 2024
Last week's closing at 83.0 against the USD, marking a 0.25% rise, mirrors India's robust economic activity PMIs and bolstered foreign exchange reserves, showcasing its strength amidst global economic deceleration.
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