INR ends higher as dollar stays weak

The Indian rupee witnessed range-bound trade and settled for the day higher by 6 paise at 83.90 (provisional) against the US dollar on Friday supported by weakening of the American currency in the overseas market and significant foreign fund inflows. The dollar index fell below 101, extending losses from the previous session amid growing expectations that the Federal Reserve could act more aggressively when it starts cutting interest rates next week. Meanwhile, the benchmark S&P/BSE Sensex slid 71.77 points, or 0.09 percent, to 82,890.94 while the broader NSE Nifty index settled at 25,356.50, down 32.40 points, or 0.13 percent, from its previous close. At the interbank foreign exchange market, the local unit opened at 83.92 and witnessed an intraday high of 83.85 and a low of 83.98 against the American currency.

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