INR STEADY AROUND 83.30 PER US DOLLAR, DOLLAR INDEX SOFTENS TO ONE WEEK LOW

Published on Apr 24, 2024 13:24

The Indian rupee is witnessing very thin movement on Wednesday as supportive risk sentiment capped the downside for the local currency while a bounce in crude oil arrested the strengthening. WTI Crude oil futures rose above $83 per barrel on Wednesday morning in Asia as bargain buying stayed in place following the recent spate of losses to a four week low amid easing tensions about a wider fall out between Iran and Israel. Meanwhile, the Asian stock markets edged up on Wednesday, following the broadly positive cues from global markets overnight. The INR currently trades at 83.30 per US dollar, almost unchanged on the day. The US dollar index stays in a sluggish mode after falling under 106 mark and currently quotes at 105.66, up marginally on the day but not far from its one week low.