INR RECOVERS FROM ALL-TIME LOW; BENCHMARK INDICES SOAR

Published on Jul 26, 2024 17:16

The Indian rupee recovered from its all-time low level and appreciated 6 paise to 83.72 (provisional) against the US dollar on Friday, on strength in the domestic markets and expectations of fresh foreign inflows. The benchmark S&P BSE Sensex jumped 1,293 points, or 1.62 percent, to 81,333 while the broader NSE Nifty index closed at 24,835, up 429 points, or 1.76 percent, from its previous close. Firm global cues helped boost sentiment after data showed the U.S. economy expanded faster than expected and inflation slowed in the second quarter, suggesting a soft landing is in sight for the world`s largest economy. At the interbank foreign exchange market, the local unit opened at 83.72 and touched an intra-day high of 83.69 and a low of 83.73 against the dollar during the session.