INR hovers around 84.50 per US dollar ahead of India's GDP data release

The Indian rupee stayed under pressure and lingered near record lows against the US dollar. INR trades at 84.49 per US dollar right now, almost unchanged on the day. The US dollar index hovers around two week low in quiet trades owing to Thanksgiving day holiday. Dollar index currently trades at 106, down 0.10% on the day. Local equities saw a good spike today but failed to impact INR much as month end data on government accounts and core sector growth are keenly eyed. September quarter GDP data is also in focus. The domestic equity indices ended with major gains on Friday. The Nifty settled above the 24,100 level. Pharma, media and oil & gas shares advanced while realty and PSU bank shares declined. As per provisional closing, the S&P BSE Sensex soared 759.05 points or 0.96% to 79,802.79. The Nifty 50 index gained 216.95 points or 0.91% to 24,131.10.

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