INR CAUGHT IN TIGHT MOVES

Published on Jan 24, 2024 12:12

The Indian rupee saw a very tight movement on Wednesday after a sharp drop in previous session amid a sharp bounce in the US dollar index. The INR fell 10 paise to close at 83.15 per US dollar yesterday on the back of a massive selloff in domestic equities and currently hovers around the same levels. Indian equity indices ended with major losses on Tuesday, sliding for the second consecutive trading session. The Nifty settled below the 21,250 mark after hitting the day`s high of 21,750.25 early trades. The US dollar index is currently quoting around 103.22, down marginally on the day after good gains in last session. INR also eyed the upcoming data on government finances and core sector growth.