INR Sees Good Recovery; Appreciates Above 83/$ Mark

Published on Sep 22, 2023 16:56

The Indian rupee managed good recovery against the dollar on Friday despite dollar strength overseas, elevated crude prices and weakness in equities. Media reports that Indian government bonds are likely to get included in an emerging market debt index boosted sentiment for the domestic currency. The decision to include Indian government bonds in its benchmark emerging market index is expected to have far-reaching implications for India`s debt market and global investors. At the interbank foreign exchange market, rupee appreciated 19 paise to 82.94 (provisional) against the US dollar. The local unit opened at 82.75 against the US dollar and touched the lowest level of 82.97 in the day trade. On the NSE, USDINR September futures contract settled for the day at 82.96, down 0.12% on the day.