Currency Buzz: INR Ends Higher As Dollar Stays Weak

24 Nov 2022 , 05:36 PM

The Indian rupee appreciated 30 paise to close at 81.63 (provisional) against the US dollar on Thursday as a weak greenback in the overseas market and a rally in domestic equities boosted investor sentiments. At the interbank foreign exchange market, the local unit opened at 81.72 and touched an intra-day high of 81.60 and a low of 81.77 against the greenback. Meanwhile, the U.S. dollar held onto losses on Thursday after the minutes from the Federal Reserves November meeting supported the view that the central bank would downshift and raise rates in smaller steps from its December meeting. The dollar index, which measures the greenback against six major peers, was little changed at 105.93, after sliding 1.1% on Wednesday.Powered by Commodity Insights