Gains in INR capped by weak local equities
Mumbai, Sept. 30 -- The Indian rupee appreciated 13 paise to close at 95.81 (provisional) against the US dollar on Wednesday tracking an overnight decline in the US dollar index and as crude oil prices retreated from their elevated levels. Easing US Treasury yields from multi-decade highs also supported the rupee. However, weak domestic markets capped sharp gains for the Indian currency. Despite staying positive for most part of the trading session, key Indian stock indices Sensex and the Nifty50 ended weak on Wednesday due to heavy selling at several counters in the final hour. At the interbank foreign exchange market, the rupee opened at 95.87, then lost ground to touch an intraday low of 95.98 against the American currency. At the end ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.