INR weakness capped by positive cues from local equities
Mumbai, Nov. 2 -- The Indian rupee depreciated 21 paise to 94.97 against the US dollar in early trade on Monday pressured by the broad strength of the American currency in the overseas market. Positive domestic market and softening of crude oil prices however, cushioned the downside. At the interbank foreign exchange market, the rupee opened at 94.90, then fell to 94.97 against the US dollar, registering a fall of 21 paise from its previous close. Indian shares opened on a buoyant note on Monday, with easing oil prices and renewed buying from foreign institutional investors amid concerns over the outlook for AI trade elsewhere globally helping underpin investor sentiment. The 30-share BSE Sensex was up 995 points, or 1.3 percent, at 75,45...
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