INR STAYS IN A NARROW RANGE NEAR RECORD LOWS

Published on Nov 13, 2024 17:18

The Indian rupee moved in a narrow range and appreciated 1 paisa to close at 84.38 (provisional) against the US dollar on Wednesday, as persistent foreign fund outflows and a muted trend in domestic equities weighed on the local unit. Indian shares tumbled on Wednesday amid much uncertainty over how U.S.-President-elect Trump`s tariff proposals and Fed`s restrictive monetary policy will impact markets. The benchmark S&P/BSE Sensex fell 984.23 points, or 1.25 percent, to 77,690.05, while the broader NSE Nifty index settled down 324.40 points, or 1.36 percent, at 23,559.05. At the interbank foreign exchange, the rupee opened at 84.40 against the US dollar. During the session, the local currency touched a high of 84.37. It finally settled at 84.38 (provisional), 1 paisa higher than its previous close.