INR HITS TWO WEEK HIGH AGAINST US DOLLAR

Published on Apr 10, 2024 13:00

The Indian rupee rose today, adding to recent gains amid sustained gains in local equities. Dollar weakness amid upcoming March minutes, inflation report and speeches from Federal Reserve officials to gauge the potential rate-cut timetable is seen supporting the INR as it continues to bounce from a record low against the US dollar. Indian Rupee currently quotes at 83.17, up 14 paise on the day and is holding around two week high. Meanwhile, the focus of the fx markets has shifted on the US consumer price data due latest on today as investors seek direction on the next move in interest rates.