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Rupee Flexes Muscles but Dollar Demand Delivers a Takedown

Rupee Flexes Muscles but Dollar Demand Delivers a Takedown

Ladies and gentlemen, the rupee just strutted its stuff, soaring to 90.07 per dollar like a true champion! But hold on, importer demand for dollars threw a little jab, leaving it to settle at 90.36. Thanks to Muthoot Finance raising a whopping $600 million, the rupee's feeling the power! Traders are on the edge of their seats, waiting for the RBI's next move like it's the main event!

Quick rundown

  1. Rupee gains on Muthoot Finance's fund inflows.
  2. US-India trade deal sparks mixed rupee reactions.
  3. Rupee depreciated 5.41% this financial year.
  4. RBI's liquidity measures keep banking system afloat.
  5. Traders await RBI's Monetary Policy Committee meeting.

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