The rupee gained 27 paise to close at 87 per US dollar, supported by strong macroeconomic data and lower crude oil prices. Retail inflation dropped to a seven-month low of 3.61%, while industrial output grew 5% in January, raising hopes of an interest rate cut by the Reserve Bank of India. However, foreign institutional investor outflows and weak equities limited further gains.
Rupee Rises 27 paise to 87/USD
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