INR surges amid positive cues from equities; Sharp decline in oil prices and weak dollar supports

The Indian rupee surged 32 paise to 84.25 (provisional) against the US dollar on Monday, supported by a sharp decline in crude oil prices and a positive trend in domestic equities. Sustained weakness in dollar also lent support to the local unit. Rupee jumped to its highest level since November 2024. Local shares eked out modest gains on Monday, with underlying sentiment supported by easing global trade tensions and continued foreign inflows. The benchmark 30-share BSE Sensex ended the session up 294.85 points, or 0.37 percent, at 80,796.84 while the broader NSE Nifty index closed at 24,461.15, up 114.45 points, or 0.47 percent, from its previous close. At the interbank foreign exchange, the domestic unit opened at 84.45 and moved between the intra-day high of 84.10 and the low of 84.47 against the greenback.

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