INR EXTENDS STEALLAR SHOW, HITS NEAR 82.80 PER US DOLLAR MARK

Published on Feb 02, 2024 11:59

Indian Rupee extended its stellar show after breaking under 83 per US dollar mark as firm equities kept the momentum well supported. INR currently quotes at 82.84 per US dollar, adding 13 paise on the day and hitting a fresh two week high of 82.82 per US dollar in early moves. The Finance and Corporate Affairs Minister Nirmala Sitharaman presented an Interim Union Budget for 2024-2025 in Parliament raising the capital expenditure outlay by 11.1% to Rs 11.11 lakh crore for 2024-25, which would be 3.4% of the GDP. The capital expenditure outlay has trebled in the past 4 years resulting in huge multiplier impact on economic growth and employment creation. Meanwhile, the key equity barometers continued to trade with major gains in mid-morning trade. The Nifty 50 index surged 346.80 points or 1.60% to 22,044.25.