INR stays range bound on persistent dollar demand from oil marketing companies
Mumbai, Sept. 30 -- The Indian rupee traded in a narrow range and fell 3 paise to 95.97 against the US dollar in early trade on Wednesday, pressured by persistent dollar demand from state-run oil marketing companies and firm crude oil prices. Indian benchmark indices, the BSE Sensex and NSE Nifty 50, are trading with marginal gains in morning trade on Wednesday, recovering slightly from a flat-to-negative start. The BSE Sensex is trading at 72,751.64, up about 222 points from its previous close, while the NSE Nifty 50 sits at 22,721.45, hovering just above the 22,700 threshold. Dollar sales by state-run banks on behalf of the Reserve Bank of India in both spot and forward markets are restricting the USD/INR pair under 96.00 level. Additio...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.