INR extends upside amid weak dollar, FPI inflows

The Indian rupee is regaining momentum in opening trades on Wednesday tracking dollar weakness overseas and cheering return of foreign investment inflows. INR opened at Rs 90.56 per dollar and hit a high of 90.46 so far during the day. Yesterday, rupee pared initial losses and settled on a positive note, higher by 9 paise at 90.57 against the US dollar, supported by positive cues from domestic equities. NIFTY50 index extended the upmove as United States and India reached a framework for an Interim Agreement on reciprocal trade. The index has zoomed near 26000 mark today and is keeping INR supported. The benchmark BSE Sensex rose by 208.17 points, or 0.25 percent, to 84,273.92, extending its rally into a third consecutive session. The broader NSE Nifty index ended up 67.85 points, or 0.26 percent, at 25,935.15 amid the weekly expiry of options contracts. Meanwhile, US dollar index tanked in global markets yesterday and was trading under 97 mark, lingering near one-week low.

 

Powered by Capital Market - Live News