INR TRIMS GAINS AS DOLLAR RECOVERS OVERSEAS

Published on Dec 04, 2023 16:47

Dollar recovery overseas trimmed intraday gains in the Indian rupee that settled lower by 3 paise at 83.36 (provisional) against the US dollar on Monday. Sharp surge in domestic indices after the ruling BJP scored a spectacular win in three Hindi heartland states led the rupee higher during the day to hit a high of 83.27. Sustained foreign fund inflows also supported the local currency. At the interbank foreign exchange market, the local unit opened at 83.28 and touched a low of 83.37 against the greenback. It finally settled at 83.36 (provisional) against the dollar, down by 3 paise from its previous close. On the NSE, USDINR futures ended the day higher at 83.40, up marginally on the day.