INR shows signs of near-term stabilisation
Mumbai, Nov. 2 -- The Indian rupee fell 10 paise to close at 94.86 (provisional) against the US dollar on Monday. The Indian rupee is showing signs of near-term stabilisation after recovering sharply against the US dollar in previous sessions. A positive trend in domestic equities and softening of crude oil prices, however, cushioned the downside. India's BSE Sensex staged a strong rally to close about 1.7% firmer at 75,693 on Monday, its highest since September 7, buoyed by strong corporate results, cooling oil prices and improving foreign investor activity. Foreign Institutional Investors (FIIs) purchased equities worth 35.99 billion rupees on Friday, extending their buying streak to six sessions in the past 10 trading days. Hopes of ta...
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