INR settles lower as dollar stays firm ahead of FOMC rate decision; positive local equities and marginal pullback in oil limit downside
Mumbai, Oct. 26 -- The Indian rupee depreciated for the third straight day and settled 29 paise lower at 95.22 (provisional) against the US dollar on Monday, weighed down by elevated crude oil prices and geopolitical tensions in the Middle East. Rupee declined on positive dollar and slight gains in US Treasury yields, while a recovery in the domestic markets cushioned the downside. At the interbank foreign exchange market, the rupee opened at 94.92 against the dollar, then lost ground to touch an intra-day low of 95.26 and finally settled for the day at 95.22 (provisional), registering a decline of 29 paise over its previous close. Local shares reversed course to end notably higher on Monday as investors closely monitored the situation in...
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