INR SEES GOOD REBOUND AS LOCAL INDICES JUMP; SENSEX UP 496 POINTS

Published on Jan 19, 2024 17:24

Good bounce back in domestic equities supported rebound in the Indian rupee on Friday. Rupee gained 7 paise to settle at 83.06 (provisional) against the US dollar, tracking robust buying in domestic equity markets and weak American currency overseas. The benchmark S&P BSE Sensex soared 496.37 points, or 0.70 percent, to 71,683.23 after three consecutive sessions of losses. The broader NSE Nifty index also snapped a three-day losing streak, rising 160.15 points, or 0.75 percent, to 21,622.40. However, strengthening crude oil prices and foreign capital outflows capped the sharp gain in the domestic currency. At the interbank foreign exchange, the domestic currency opened at 83.15 and traded between the peak of 83.06 and the lowest level of 83.16 against the greenback. USDINR on NSE futures settled for the day at 83.07, down 0.09% on the day.