Indian Rupee saw good appreciation today as tepid undertone in the US dollar index supported the local currency as near term economic optimism also boosted sentiments. INR quotes at 86.66 per US dollar, up 31 paise on the day. Domestic equity indices ended lower on third consecutive session though broad markets saw good strength. RBI noted in its monthly bulletin that India's high frequency indicators point towards a sequential pick-up in momentum of economic activity during H2:2024-25, which is likely to sustain moving forward. RBI noted that India's industrial activity has recorded an improvement over the previous quarter, as reflected in the Purchasing Managers' Index (PMI) in January. Pick-up in tractor sales growth, and fuel consumption, and sustained growth in air passenger traffic also point to a recovery in overall momentum. Meanwhile, the US dollar index quotes around 106.87, down marginally on the day.

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