INR hold near 4-month high amid improving global sentiments
Mumbai, Nov. 5 -- The Indian rupee ended around a four-month high on Thursday as local shares rose sharply, extending gains for a sixth consecutive session as global bond yields eased and Brent crude prices plummeted to $94 a barrel on hopes that the U.S.-Iran war could end soon. Democrats' sweeping victory in the U.S. midterm elections along with diplomatic signals from Washington and Tehran have helped strip the risk premium out of crude. U.S. Treasury yields fell across the curve and the dollar slid to the lowest in more than a month, bringing investors back to Indian equities. Recently, foreign investments poured into Indian equities, showcasing hefty net purchases. Foreign investors net bought stocks worth $769.65 million on Wednesda...
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