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INR Edges Higher Amid Positive Equities

Published on Jun 12, 2024 17:04

The Indian rupee appreciated 11 paise to close at 83.48 (provisional) against the US dollar on Wednesday, on positive domestic market, wherein benchmark sensitive index Nifty touched a fresh all-time high. The benchmark 30-share BSE Sensex hit high of 77,050 before closing up 149.98 points, or 0.20 percent, at 76,606.57. The broader NSE Nifty index hit a fresh record high at 23,442 before settling at 23,322.95, up 58.10 points, or 0.25 percent, from its previous close. A slight pull back in dollar strength ahead of crucial set of data also supported the local unit although elevated crude oil prices weighed on the local unit and restricted the upmove. Meanwhile, investors await the release of U.S. inflation data as well as the Federal Reserve`s rate decision later in the day for additional clues on the Fed`s rate trajectory. On the domestic front, industrial output and inflation data are due out later in the day.

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