INR Breaks Free From Tight Band And Jumps 27 Paise Amid Bull Run In Equities; Sensex, NIFTY Scale To New Highs

Published on Dec 15, 2023 16:59

The Indian rupee registered good gains against the dollar on Friday after having stayed in a tight band near record lows in recent times. Dollar weakness coupled with unabated foreign fund inflows and a record-breaking rally in domestic stocks supported the domestic unit higher. Stock markets continued their record run with the benchmark BSE Sensex breaching the new milestone of 71,000. The benchmark S&P BSE Sensex soared 969.55 points, or 1.37 percent, to 71,483.75 while the broader NSE Nifty index closed at 21,456.65, up 273.95 points, or 1.29 percent, from its previous close. The rupee jumped by 27 paise to close at 83.03 (provisional) against the US dollar. At the interbank foreign exchange market, the rupee opened flat at 83.30 against the dollar. After touching the day`s low of 83.32 in early trade, the rupee reversed the losses and surged to a high of 82.94.