Rupee rises 16 paise to end at 82.54 against US dollar amid RBI rate hike

Updated: Feb 8 2023 10:39PM

Rupee rises 16 paise to end at 82.54 against US dollar amid RBI rate hike

Mumbai, Feb 8 (PTI) The rupee appreciated 16 paise to close at 82.54 against the US dollar on Wednesday after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points.

A rally in the domestic equity markets and weakness in the greenback against major crosses overseas also supported the rupee, forex traders said.

However, surging crude prices in the international market and persistent foreign fund outflows restricted the appreciation bias in the local unit, they added.

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