INR Cautiously Awaits FOMC For Further Cues

Published on Oct 30, 2023 17:29

The Indian rupee settled flat at 83.25 (provisional) against the US dollar on Monday, as sustained foreign fund outflows and the strength of the American currency in the overseas market weighed on investor sentiments. US dollar gained on safe-haven demand as Israel expanded its ground operations in Gaza. However, a positive tone in domestic equities and a decline in crude oil prices restricted the downside. The benchmark S&P BSE Sensex rose 329.85 points, or 0.52 percent, to 64,112.65, extending gains for a second straight session buoyed by gains in U.S. stock futures and European benchmark indexes. The broader NSE Nifty index settled 93.65 points, or 0.49 percent, higher at 19,140.90. Meanwhile, investors await Federal Reserve meeting due this week. USDINR futures on NSE inched marginally higher at the end of trading day at 83.32.