INR Stays Range Bound As Equities Loiter In Red

Published on Feb 26, 2024 17:12

The Indian rupee gained 2 paise to settle at 82.89 (provisional) against the US dollar in a range-bound trade on Monday, tracking volatility in the equity market. Local equities ended lower amid mixed global cues. Meanwhile, crucial inflation data from major economies this week are awaited for guidance on the outlook for global interest rate moves. The benchmark S&P/BSE Sensex ended the session down 352.67 points, or 0.48 percent, at 72,790.13 after a choppy session. The broader NSE Nifty index settled 90.65 points, or 0.41 percent, lower at 22,122.05. However, inflow of foreign funds and softer crude oil prices provided support to the Indian currency. Dollar index staying below 104 mark is also seen supportive for the local unit.