INR HITS ONE AND HALF MONTH HIGH AGAINST US DOLLAR, NIFTY ENDS AT RECORD CLOSE

Published on Sep 17, 2024 18:00

Indian Rupee appreciated further against the US dollar today as equities stayed firm and the US dollar was slippery ahead of the Fed interest rate decision. INR has broken under 83.90 per US dollar and hit a one and half month high of 83.70 per US dollar today in intraday moves. The US dollar index is holding around 100.30- its lowest levels in this calendar year as focus has shifted to the possibility that the Federal Reserve could act more aggressively when it starts cutting interest rates this week. Meanwhile, the domestic equity indices stayed well supported. The Nifty settled above the 25,400 level after hitting the day�s low of 25,352.25 in morning trade. Realty, consumer durables and auto shares advanced while media, PSU bank and metal stocks declined. The headline index has ended at a fresh record close.