INR BUOYED BY ROBUST EQUITIES, HITS NEAR FOUR MONTH TOP

Published on Jan 12, 2024 17:28

The Indian rupee settled with a gain of 11 paise at 82.90 (provisional) against the US dollar, buoyed by robust equity market sentiments. INR hit near four month high in intraday moves today against the US dollar. Indian shares posted strong gains on Friday as benchmark S&P BSE Sensex hit a record high of 72,720.96 before closing up 847.27 points, or 1.18 percent, at 72,568.45. The broader NSE Nifty index settled higher by 247.35 points, or 1.14 percent, at 21,894.55 after having hit a record high of 21,928.25 earlier in the session. An uptick in international crude oil prices and stronger American currency, however, contained the momentum of the Indian currency. At the interbank foreign exchange, the domestic currency opened weak at 83.08 and traded between 82.86 and 83.10 against the greenback during intra-day deals. Local currency market is bracing up for the release of consumer price index and industrial output figures later on today.