Business & Finance

Rupee Closes at 94.48, Up 16 Paise

By TNN

The Indian rupee rose 16 paise to close at 94.48 against the U.S. dollar on Thursday, marking its strongest level in two weeks and the fifth straight day of gains. The rally was driven by a resumption of foreign investor buying and a decline in crude oil prices below $100 per barrel. Market participants said the improved inflows were partly due to portfolio reallocation, with investors moving away from AI-related investments.