INR bounces back near one and half month high as positive equities support
Mumbai, Oct. 21 -- The Indian rupee bounced back to a one and half month high in opening trades on Wednesday and appreciated 29 paise to 94.62 against the American currency in early trade, supported by positive sentiments in the domestic market and RBI intervention to curb US dollar demand. Besides, the rupee got a boost from the foreign dollar inflows tied to the Jio IPO, which opened for public subscription on Wednesday. However, elevated crude oil prices and a firm US dollar capped the gains. Indian shares opened on a buoyant note after reports suggested that a new peace proposal put forward by Qatar and Pakistan has received positive responses from Washington and Tehran, raising hopes that a breakthrough to halt the war could be annou...
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