INR STAYS IN NARROW RANGE; UPSIDE IN EQUITIES SUPPORT

Published on May 14, 2024 17:43

The Indian rupee settled on a flat note at 83.51 (provisional) against the US dollar on Tuesday after staying in a narrow range for the day. The domestic currency gained support from positive domestic markets and favourable inflation data. However, steady dollar above 105 mark and foreign fund outflows offset some of the gains. Moreover, the rupee remains under pressure due to ongoing elections. At the interbank foreign exchange market, the local unit traded in a narrow range. It opened at 83.51, and touched an intraday low of 83.52 during the day. The benchmark S&P BSE Sensex rose 328.48 points, or 0.45 percent, to 73,104.61 while the broader NSE Nifty index settled 113.80 points, or 0.51 percent, higher at 22,217.85.