INR HITS NEAR 83.20 PER US DOLLAR IN INTRADAY MOVES

Published on Apr 08, 2024 11:38

The Indian rupee is witnessing very marginal gains today with mild losses in the US dollar index supported the local unit after recent set of losses. INR also benefited due to a sharp reversal in the global crude oil prices as WTI Crude futures tanked around 2% in Asian trades, coming off five month highs. On Friday, rupee appreciated 9 paise to close at 83.30 against the dollar as the Reserve Bank of India kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. The central bank also retained the outlook for inflation and GDP growth for 2024-25, assuming a normal monsoon. The INR currently trades at 83.31, almost unchanged on the day after hitting a high of 83.22 per US dollar in intraday moves.