Indian Rupee Jumps As Benchmark Indices Scale To Record Highs

Published on Jul 17, 2023 17:16

The Indian rupee appreciated well on Monday tracking sharply higher domestic equity benchmarks that scaled to all-time high levels. The benchmark S&P/BSE Sensex jumped 529.03 points, or 0.80 percent, to 66,589.93 - marking a record closing high. The broader NSE Nifty index also scaled a fresh record closing high, ending 146.95 points, or 0.75 percent, at 19,711.45.Besides, weakness in the American currency overseas and foreign fund inflows also boosted investor sentiments. In the spot market, the local unit opened at 82.14 against the US dollar and settled 12 paise higher at 82.05 (provisional) against the previous close. On the NSE, USDINR futures stayed choppy since the start of the day and dropped into negative terrain thereafter. The pair ended lower by 0.15% at 82.08.