INR STAYS PRESSURED AS CAUTION GRIPS LOCAL EQUITIES

Published on Dec 17, 2024 17:34

The rupee continued to stay under pressure on Tuesday, weighed down by disappointing trade balance data and weak domestic markets. INR consolidated in a narrow range and settled for the day higher by 1 paisa at 84.90 (provisional) against the US dollar. Domestic shares tumbled as caution gripped markets ahead of the Federal Reserve`s interest-rate decision. The benchmark S&P/BE Sensex slumped 1,064.12 points, or 1.30 percent, to 80,684.45 while the broader NSE Nifty index closed at 24,336, down 332.25 points, or 1.35 percent, from its previous close. At the interbank foreign exchange, the rupee opened at 84.89 and touched an all-time low of 84.93 against the greenback during intra-day trade.