INR CONTINUES TO STAY UNMOVED AS DOLLAR PULLBACK OVERSEAS OFFSET BY WEAK EQUITIES

Published on Oct 31, 2023 17:44

The Indian rupee continues to stay in a narrow band and settled flat for the day at 83.26 (provisional) against the US dollar on Tuesday. A pull back in dollar overseas failed to prop up the domestic unit as weak domestic equity markets and sustained foreign fund outflows weighed on investor sentiments. However, a decline in crude oil prices supported the local currency amid geopolitical tensions in the Middle East. At the interbank foreign exchange, in a range-bound trade, the rupee opened at 83.26 and finally settled at the same level as the American currency. On NSE, USDINR futures settled for the day at 83.30, almost unchanged on the day.