INR edges higher, supported by positive domestic markets and softening crude oil prices
Mumbai, Oct. 29 -- The Indian rupee consolidated in a narrow range and rose 3 paise to close at 95.25 (provisional) against the US dollar on Thursday, supported by positive domestic markets and softening crude oil prices. The rupee fell to a two-week low on a strong dollar and a slightly hawkish Fed. However, positive domestic markets and softening of crude oil prices cushioned the downside. In the interbank foreign exchange market, the rupee opened at 95.20 against the dollar, then lost ground to touch an intra-day low of 95.38 and finally settled for the day at 95.25 (provisional), registering a gain of 3 paise over its previous close. Local shares rallied on Thursday after the U.S. Federal Reserve held interest rates steady, as widely ...
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