Rupee appreciates 8 paise to 83.49 against US dollar in early trade

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Rupee appreciates 8 paise to 83.49 against US dollar in early trade - Business Standard

Quick Summary:

At the interbank foreign exchange market, the local unit opened at 83.56 and gained further ground to trade at 83.49 against the greenback in initial deals, registering an increase of 8 paise from its previous closing level.

"Stronger fundamentals such as stable inflation, accelerated economic growth, higher business activity, and a controlled Current Account Deficit offer a counterbalance supporting the rupee.

The rupee appreciated 8 paise to 83.49 against the US dollar in early trade on Thursday, as crude oil prices retreated from their elevated levels.