INR seen supported by positive momentum in domestic equity markets
Mumbai, Sept. 18 -- The Indian rupee pared initial gains to close unchanged at 95.89 (provisional) against the US dollar on Friday amid a strong American currency. Positive momentum in domestic equity markets, however, supported the Indian currency. Rupee's fall was capped as crude prices slid below the 104-per-barrel level, and US bond yields eased after the US Federal Reserve hiked interest rates by 25 basis points. Indian shares ended Friday's session mostly higher as a pullback in oil prices and global bond yields helped ease concerns around inflation, India's import bill and earnings. The U.S. Federal Reserve's first interest-rate hike in three years also instilled confidence in investors regarding the central bank's resolve to bring...
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