Indian rupee strengthens against the US dollar despite inflation and trade deficit concerns.

The Indian rupee gained 8 paise to 84.38 against the US dollar on Monday, despite a stronger US dollar and foreign fund outflows. This improvement was aided by lower global crude oil prices. However, domestic inflation reached four-month and 14-month highs, putting pressure on the rupee. India's exports rose by 17.25% to $39.2 billion in October, but the trade deficit widened to $27.14 billion.

November 18, 2024
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