INR HOLDS AROUND THREE WEEK HIGH AGAINST US DOLLAR, SLIDING CRUDE OIL HELPS

Published on May 22, 2024 12:59

The Indian rupee stayed supported against the US dollar today, holding onto its recent wave of appreciation. Local equities are managing to hold onto gains amid steady global cues. The US Dollar Index is lax around 104.50 mark as the market`s focus is steadily shifting toward the forthcoming release of the Federal Open Markets Committee (FOMC) Minutes on Wednesday. A renewed wave of correction in WTI Crude oil futures that pulled the counter towards $77.50 per barrel is also supporting the local currency. INR is currently up 5 paise at 83.26 against the US dollar. Rupee is near its three week high right now.