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Indian Rupee Continues Upward Trend, Gains 6 Paise Against US Dollar

The Indian rupee maintained its upward trajectory for the second consecutive session, strengthening by 6 paise to 83.28 against the US dollar in early trade on Wednesday. The surge is attributed to a weakened US dollar and increased foreign fund inflows into domestic equities.

Forex traders noted that positive sentiments in the domestic equity markets, coupled with a decline in crude oil prices, contributed to the boost in the Indian currency. The rupee opened stronger at 83.30 against the dollar, briefly slipping to 83.33 before settling at 83.28, marking a 6-paise gain from its previous close.

This trend reflects ongoing economic dynamics and investor confidence in India’s financial markets, showcasing resilience and potential for further gains.

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