INR settles on a lower note; Positive equities cap downside
The Indian rupee witnessed a volatile trading session and settled for the day on a lower note, down 9 paise at 90.74 (provisional) against the US dollar on Monday. INR gave up early gains amid India-US interim trade framework. The rupee witnessed high volatility as the support from positive domestic equities and foreign fund inflows was negated by risk-off sentiments among investors. At the interbank foreign exchange market, the rupee opened at 90.66 against the US dollar, then gained some ground to touch 90.37, registering a gain of 28 paise over its previous close. Indian shares rose notably on Monday after the United States and India unveiled an interim framework designed to reduce tariffs, redefine energy partnerships, and enhance economic collaboration. The benchmark BSE Sensex jumped 485.35 points, or 0.58 percent, to 84,065.75 while the broader NSE Nifty index closed up 173.60 points, or 0.68 percent, at 25,867.30.
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