Indian Rupee Strengthens Against The U.S. Dollar

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Rishabh Bhatnagar @Rish_Bhat

11:37 AM IST, 20 Jan 20233:38 PM IST, 20 Jan 202311:37 AM IST, 20 Jan 20233:38 PM IST, 20 Jan 2023

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Close view of counting Indian rupee bank notes. (Photo: Usha Kunji/BQ Prime)

The Indian rupee strengthened against the U.S. dollar on Friday.

The local currency appreciated 0.15%, or 12 paise, to 81.24 against the greenback at open, compared to Thursday's close of 81.36.

Intraday, the rupee had strengthened as much as 0.34%, or 28 paise, to 81.08.

At close, the rupee traded at 81.12.

"The U.S. dollar index continued to trade near its seven-month low at 102 as a weaker set of economic numbers increased the fears of a recession in the U.S. economy. The data released on Thursday indicates the weakness in the housing sector," ICICI Direct said in its daily currency strategy note.