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Rupee Makes Some Recovery But May Touch 68 Against US Dollar: 10 Points

Some recovery in the rupee comes a day after it registered a near one-week low against the dollar
Some recovery in the rupee comes a day after it registered a near one-week low against the dollar

The rupee strengthened by eight paise to 67.57 against the US dollar (USD) on Thursday morning, as weakness witnessed in the greenback overseas supported the domestic currency (INR). The fall in the dollar, with the dollar index erasing all of its gains so far this week, came despite the US Federal Reserve announcing a hike in the key US lending rate overnight and signaling two additional hikes this year. On Wednesday, the rupee had declined 16 paise to close at a near one-week low of 67.65 against the US currency on sustained dollar demand.

Here are 10 things to know about rupee's movement against the US dollar (INR vs USD):

(With agency inputs)