INR up marginally but stays near record low

Indian Rupee edged up marginally today but held close near record low against the US dollar. The INR is currently quoting at 83.35 per US dollar, up 4 paise on the day as markets opened up following an extended weekend. INR tracked a first start to the New Financial year by local equity markets but sharp gains in US dollar index capped the advances in the local currency. US dollar index soared yesterday nearing 104.90 mark and approaching highest levels for this year amid supportive economic cues. The index currently quotes at 104.83, up marginally on the day after spiking around half a percent on the day in the last session. Meanwhile, the local stock markets started the new financial year on a strong note, mirroring a global rally. The barometer index, the S&P BSE Sensex, was up 363.20 points or 0.49% to 74,014.55. The Nifty 50 index added 135.10 points or 0.61% to 22,462. Both the indices advanced over 2% in three trading sessions. The Sensex and Nifty 50 clocked an all-time high of 74,254.62 and 22,529.95, respectively in intraday moves.

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