INR RANGE BOUND AS REBOUND IN EQUITIES OFFSET BY DOLLAR STRENGTH OVERSEAS

Published on Mar 14, 2024 17:29

The Indian rupee depreciated 3 paisa to settle at 82.84 (provisional) against the US dollar on Thursday as gains from rebound in equities were offset by dollar strength abroad. The dollar index continues to steady just below 103 mark on Thursday awaiting further clarity on Federal stance from a slew of US data due later in the global day. US producer inflation, retail sales and weekly jobless claims figures are due for the day. Rising crude oil prices also weighed on the local unit although a firm trend in domestic equity markets supported the local currency and restricted the fall. The benchmark S&P BSE Sensex rose 335.39 points, or 0.46 percent, to 73,097.28 amid widespread buying across sectors. The broader NSE Nifty index settled up 153.30 points, or 0.7 percent, at 22,151. At the interbank foreign exchange market, the local unit opened slightly weak at 82.84 and witnessed an intra-day low of 82.89 and a high of 82.82 against the greenback during the session.