INR hovers around three week high against US dollar ahead of key data

Published on Jan 11, 2024 12:02

The Indian rupee is holding onto its latest gains today. Rupee gained for the sixth straight session and settled the day at its highest level in over three-weeks on Wednesday. Rupee is tracking a firm trend in equity markets and a tepid undertone in the US dollar index which is hovering around 102 levels. Indian shares ended modestly higher on Wednesday despite mixed cues from global markets. The 30-share BSE Sensex rose 271.50 points, or 0.38 percent, to 71,657.71 while the broader NSE Nifty index ended up 73.85 points, or 0.34 percent, at 21,618.70. Fx markets are eying crucial US inflation data that is expected to provide further clarity on Federal rate stance also supported rupee gains. The INR currently quotes at 82.96, up 8 paise on the day � consolidating around three week highs. Meanwhile, local inflation and industrial output data is due tomorrow.