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INR Jumps To Highest Level In Over 3-Weeks

Published on Jan 10, 2024 17:31

The Indian rupee gained for the sixth straight session and settled the day at its highest level in over three-weeks on Wednesday. Rupee jumped 11 paise at 83.02 (provisional) against the US dollar on Wednesday, tracking a firm trend in equity markets and easing crude prices. 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. Meanwhile, subdued greenback overseas awaiting crucial US inflation data that is expected to provide further clarity on Federal rate stance also supported rupee gains. At the interbank foreign exchange market, the local unit opened at 83.13 and traded between the peak of 82.97 and the lowest level of 83.18 against the greenback during the session. On the NSE, USDINR futures pair edged lower through the day to end at 83.09, down 0.12% on the day.

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