Dollar vs Rupee Rate: The rupee rose 32 paise to Rs 80.98 against the American currency in early trade on Thursday amid weakness in the US dollar. The Federal Reserve of America said that the pace of increase in interest rates may slow down, this supported the rupee. At the Interbank Foreign Exchange market, the rupee opened at 81.08 against the US dollar and then settled at 80.98, registering a rise of 32 paise over the previous closing price.
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Rupee against the American currency (Dollar vs Rupee) on Wednesday strengthened by 42 paise to close at a two-week high of 81.30 per dollar.
Meanwhile, the dollar index, which shows the position of the US dollar against six major currencies, fell 0.27 percent to 105.66. Federal Reserve chief Jerome Powell said on Wednesday that the central bank could reduce the rate of increase in interest rates.
Global oil index Brent crude futures were up 2.89 per cent at $85.43 per barrel.
(This news has not been edited by NewsBust India team. It is published directly from syndicate feed.)
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