INR ENDS MARGINALLY LOWER; POSITIVE EQUITIES LIMIT DOWNSIDE

Published on Oct 10, 2024 17:04

The Indian rupee depreciated 2 paise to close at 83.98 (provisional) against the US dollar on Thursday amid sustained foreign fund outflows and elevated crude oil prices. However, a marginal decline in the value of the greenback against overseas currencies, and rise in the domestic equity market supported the local unit and prevented further slide in the domestic unit. Indian benchmark indices ended higher amid volatility on October 10 with Nifty around 25,000. At close, the Sensex was up 144.31 points or 0.18 percent at 81,611.41, and the Nifty was up 16.50 points or 0.07 percent at 24,998.50. Investors await release of US CPI data for further cues on Federal rate path. At the interbank foreign exchange, the rupee opened at 83.95, registering a marginal rise of 1 paisa against the US dollar, and traded in a tight range of 83.95-83.98. It settled at 83.98 (provisional), 2 paise lower than Wednesday`s close of 83.96.