INR NEAR FOUR MONTH HIGH, NIFTY BREAKS ABOVE 22000 MARK

Published on Jan 15, 2024 11:44

The Indian rupee extended gains today, appreciating further after breaking under 83 per US dollar mark. The INR tracked weakness in the US dollar overseas and a sustained upmove in local equities also boosted the currency. The INR currently quotes up 10 paise at 82.85 against the US dollar after hitting near four month high of 82.80 per US dollar in intraday moves. Meanwhile, economic data on Friday showed India`s consumer price inflation accelerated further in December to the highest level in four months on food prices but remained within the central bank`s tolerance band of 2-6%, official data showed on Friday. The CPI rose an annual 5.69% in December, following October`s 5.55% gain. The industrial output growth weakened more than expected in November. Industrial output registered an annual increase of 2.4% after posting a double-digit revised expansion of 11.6% in October. The Sensex zoomed around 0.81% to break above at 73000 mark and the Nifty rose 0.70% to surge above 22000 level.