INR RECOVERS AS DOLLAR RETREATS FROM RECENT HIGHS

Published on Apr 18, 2024 17:07

The Indian rupee recovered against the dollar as the American currency and international crude oil prices retreated from their elevated levels. Rupee rebounded from its all-time low levels and appreciated 6 paise to close at 83.55 (provisional) against the US dollar on Thursday. At the interbank foreign exchange market, the local unit opened at 83.51 against the greenback. The unit hit an intra-day high of 83.49. The domestic unit finally settled at 83.55 (provisional) against the dollar, 6 paise higher from its previous close. Meanwhile, Indian shares extended losses for a fourth day running on Thursday due to heightened tensions in the Middle East and concerns about the outlook for U.S interest rates. The benchmark S&P BSE Sensex ended the session down 454.69 points, or 0.62 percent, at 72,488.99 after having rallied over 500 points to a high of 73,473 earlier in the day. Likewise, the broader NSE Nifty index hit an intraday high of 22,326 before reversing course to finish down 152.05 points, or 0.69 percent, at 21,995.85.