Indian Rupee Strengthens as GDP Growth Surges
The Indian rupee gained 17 paise on March 3, reaching 87.3425 against the US dollar, thanks to a rebound in India's GDP growth. The economy grew by 6.2% in the last quarter, showing signs of recovery after a drop to 5.6% in the previous quarter. This positive growth, though slightly below the expected 6.3%, supports the rupee and keeps the annual forecast at 6.5%. Currency experts believe this resilience in the economy is a reason for the rupee’s strength. As the dollar index also weakened, it further aided the rupee's performance in the currency market.
