INR APPRECIATES AMID SOLID BOUNCE IN LOCAL EQUITIES

Published on Dec 13, 2024 17:24

INR has seen hefty losses over last few days against the US dollar amid weak undertone in emerging currencies. INR edged up today though and added 10 basis points to 84.78 per US dollar. The US dollar index quotes up marginally at 106.70 after adding good gains in last session. Dollar index is currently at its two week high. INR had neared 84.90 per US dollar levels in last session but a smart recovery in local equities despite negative cues from Asian equities boosted the sentiments for the domestic currency. The benchmark Indian equity indices ended with major gains on Friday. The Nifty scaled above the 24,750 level after hitting the day�s low of 24,180.80 in mid-morning trade. The index added around 0.90% on the day.