Mumbai: The Indian rupee gained against the US dollar in the forex market. The positive economic outlook of India and the weakening of the US dollar supported the Indian currency. The International Monetary Fund (IMF) in its latest World Economic Outlook update said that the economic growth in India was projected to remain strong at 6.5% in both 2024 and 2025.
The dollar index, which measures the U.S. currency against six major rivals, was down 0.058% at 104.14. The dollar reported five straight weeks of gains. The index is up 3% this year.
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India’s goods trade deficit narrowed by nearly 12% in January compared to the previous month. The trade deficit dropped to $17.49 billion in January from $19.80 billion in December.
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