INR Stays Range Bounds; Key US Data Eyed

The Indian rupee closed almost flat at 82.89 (provisional) against the US dollar in a restricted trade on Tuesday amid withdrawal of foreign funds and increased month-end demand for the American currency. Optimistic equities and a weaker dollar limited downside for the local unit. The benchmark S&P/BSE Sensex rose 305.09 points, or 0.42 percent, to 73,095.22 while the broader NSE Nifty index settled 76.30 points, or 0.34 percent, higher at 22,198.35. Meanwhile, investors kept an eye on domestic and global macroeconomic data to be released this week. At the interbank foreign exchange market, the local unit opened firm at 82.87 against the dollar and touched a low of 82.90 in intra-day trade. The local unit finally settled at 82.89 (provisional) against the greenback, down by 1 paisa from the previous closing level.

Powered by Capital Market - Live News