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Rupee ends higher at 69.35 per dollar



The Indian rupee jumped 25 pp when it ended Thursday at 69.35 per dollar, up from 69.60 for Tuesday. On Wednesday, the currency markets were closed for Mahavir Jayanti, while they remain closed for good on Friday, April 19.

Rupee futures are expected to rise 69.55 against the dollar after robust economic data pushed the Chinese yuan up to a nine-month high. China's economy grew steadily by 6.4 percent in the first quarter, bucking expectations of further slowdown as industrial production rose and consumer demand improved. The yuan rose 0.4% yesterday after economic growth in the country's first quarter outperformed and industrial production rose most sharply in four years in March, continuing its rise to a nine-month high of 6,688 versus the dollar, Motilal said Oswal.

The US industrial production fell 1

% in March, reflecting a decline in mining output. Factory production remained weak in the face of slowing global economic activity and trade tensions with China. Investors are watching Chinese and European economic data for signs that global growth is recovering.

The published PMIs for manufacturing and services in Europe will be the next sign of the strength of the European economy.


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