INR stays supported as oil prices continue to recede
Mumbai, Sept. 23 -- The Indian rupee gained 5 paise to 95.57 against the US dollar in early trade on Wednesday, supported by falling crude oil prices and a broader recovery in Asian currencies. Direction for rupee going ahead will majorly be driven by unfolding geopolitical developments. Softer crude oil prices remain the major support for the rupee, while a firm American currency after the US Fed's rate hike and foreign portfolio outflows remain the main concerns.The NIFTY 50 index is trading at 23,353.30, up by +0.10% (+24.30 points).
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