Mumbai: The Indian rupee ended with its strongest closing in nearly two months to close at 94.95 on Tuesday, versus its previous close of 95.16. The strength came from flow-related dollar offers from foreign banks and aggressive central bank intervention through nationalised banks. The rupee gained past the 95 per dollar levels, which was a strong resistance zone, triggering stop losses for many.

The gains came in despite high crude oil prices and overall weak Asian currencies during the day. Strong Q1 GDP growth of 7.8% along with dollar sales by the Reserve Bank both in the offshore as well as domestic markets caused this rise, traders said.

“The strength reflects continued RBI dollar sales, both in the NDF and OTC (over the counter) market, along with flows from National Investment and Infrastructure Fund of nearly $ 2.2 billion on Tuesday,” said Anil Bhansali, head of treasury, Finrex Treasury Advisors.

Read more: Global Market: AI could force central banks to rethink monetary policy

The rupee traded between 94.79 and 95.11 on Tuesday, and according to these levels, it has erased nearly all losses of this financial year. The rupee had closed at 94.83 in March.

The positive sentiment however is not expected to last very long, as dollar demand is likely to continue amid high oil prices, while global bond sentiments are negative. “The positive growth outlook is helping offset pressure from higher oil prices and keeping sentiment towards the rupee stable. Going ahead, crude, dollar movement and FII flows will remain key triggers. Rupee range can be seen between 94.70 and 95.40 in the near term,” said Jateen Trivedi, VP, research analyst, LKP Securities.

At this year’s World Robot Conference in Beijing, Unitree’s founder announced plans to accelerate humanoid robot development. The company aims to enhance robot intelligence, mobility, and versatility, competing globally in the robotics industry. Their focus includes improving robot adaptability for various applications, highlighting China’s growing capabilities in humanoid robotics innovation.

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China’s humanoid robots are experiencing a significant shift from research prototypes to practical industrial applications. This transition reflects China’s growing emphasis on automation to boost manufacturing efficiency, reduce labor costs, and improve safety standards. Companies are increasingly deploying these intelligent robots in tasks such as assembly, logistics, and quality inspection, where human workers previously performed manual labor.

The advancement of AI and sensor technologies has enabled humanoid robots to perform complex and repetitive tasks with higher precision and reliability. As costs decrease and technology matures, more factories across China are adopting these robots to stay competitive in the global market. This trend is also aligned with China’s broader push towards high-tech innovation and smart manufacturing.

Overall, the shift of Chinese humanoid robots to industrial utility marks a major milestone in robotics development. It signifies China’s commitment to leading in industrial automation and reflects a future where humans and machines collaborate more seamlessly in manufacturing processes, driving economic growth and technological progress.

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