INR recovers as equities push higher and oil retreats
Mumbai, Oct. 29 -- The Indian rupee appreciated 11 paise to 95.17 against the US dollar in early trade on Thursday amid a slight easing of the American currency following the US Federal Reserve's policy announcement. The US Fed kept interest rates unchanged at 3.75 per cent-4.00 per cent as widely expected, but the market reaction turned mildly dollar-negative. At the interbank foreign exchange market, the rupee opened at 95.20, then gained ground and touched 95.17 against the US dollar, registering a rise of 11 paise over its previous close. Meanwhile, local shares were modestly higher in early trade on Thursday as the U.S. Federal Reserve left interest rates unchanged, as widely expected, and oil prices eased following fresh diplomatic ...
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