GAINS IN INR LIMITED AMID WEAK EQUITIES; NIFTY BELOW 21,500

Published on Jan 18, 2024 18:04

The Indian rupee appreciated 2 paise to settle at 83.12 (provisional) against the US dollar on Thursday, tracking a mild pull back in the American currency against major rivals overseas. A weak trend in domestic equity markets and rising crude oil prices kept the movement of the domestic currency restricted. The benchmark S&P/BSE Sensex hit a low of 70,665.50 in intraday trade before cutting losses to end the session down 313.90 points, or 0.44 percent, at 71,186.86. The broader NSE Nifty index finished 109.70 points, or 0.51 percent, lower at 21,462.25, after having hit a low of 21,285.55 earlier. At the interbank foreign exchange, the domestic currency opened at 83.16 and traded in the range of 83.10 to 83.18 against the greenback. The unit finally settled at 83.12 against the dollar, registering a gain of 2 paise over its previous close.