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Rupee strengthens after hitting record low last week
The rupee had weakened to a record low of 79.96 last week, weighed down by broad gains in the dollar as red-hot inflation data raised fears of more aggressive policy tightening by the U.S Federal Reserve.
Published on: Jul 18, 2022, 10:42:54 IST
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The Indian rupee strengthened against the dollar on Monday, tracking other Asian currencies and following slight gains in the domestic share market.
The rupee had weakened to a record low of 79.96 last week, weighed down by broad gains in the dollar as red-hot inflation data raised fears of more aggressive policy tightening by the U.S Federal Reserve.
Also read: Rahul Gandhi's 'rupee' dig at Centre as it edges closer to 80-mark
The partially convertible rupee rose to 79.73 per dollar at one point, compared with Friday's close of 79.88. It was trading at 79.83, as of 0417 GMT.
The 10-year benchmark bond yield was at 7.41%, compared with its close of 7.44% on Friday.
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