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INR Recovers Slightly Although Dollar Strength Caps Upside

Published on Apr 30, 2024 17:13

The Indian rupee recovered 4 paise to settle for the day at 83.41 (provisional) against the US dollar on Tuesday, tracking foreign capital inflows. However, dollar strength and weaker local equities limited gains in the local unit. Indian shares gave up early gains to end modestly lower on Tuesday as caution prevailed ahead of the Federal Reserve`s monetary policy announcement on Wednesday. The benchmark S&P BSE Sensex ended the session down 188.50 points, or 0.25 percent, at 74,482.78 ahead of a holiday for markets on Wednesday due to Maharashtra Day. The broader NSE Nifty index settling down 38.55 points, or 0.17 percent, at 22,604.85. At the interbank foreign exchange market, the local unit opened at 83.46 and traded between 83.41 and 83.52 against the greenback during the session.

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