INR SETTLES HIGHER ON POSITIVE EQUITIES AND MUTED DOLLAR OVERSEAS

Published on Apr 10, 2024 17:34

The Indian rupee appreciated 12 paise to close at 83.19 (provisional) against the US dollar on Wednesday, as equity benchmarks climbing to all-time high levels and a weak greenback against major currencies overseas boosted investor sentiment. At the interbank foreign exchange market, the local unit opened at 83.23 against the greenback. The unit hit an intraday high of 83.15. Global cues were mixed as investors awaited cues from U.S. inflation readings, the FOMC minutes and the ECB policy meeting. Currently, DXY futures are trading at 103.91. The benchmark S&P BSE Sensex moved in a narrow range before ending the session up 354.45 points, or 0.47 percent, at 75,038.15. The broader NSE Nifty index settled 111.05 points, or 0.49 percent, higher at 22,753.80.