Currency Buzz: INR Rebounds Amid Firm Equities

28 Jul 2022 , 05:10 PM

Firm equities coupled with broad weakness in dollar post Fed decision supported gains in the Indian rupee that appreciated 22 paise to close at 79.69 (provisional) against the US dollar on Thursday. At the interbank forex market, the local unit opened at 79.80 against the greenback and finally settled at 79.69 (provisional), registering a rise of 22 paise over its previous close. During the session, the local unit witnessed an intra-day high of 79.64 and a low of 79.85 against the American currency. On Wednesday, the rupee declined 13 paise to close at 79.91 against the US dollar. Meanwhile, the dollar index, which measures the greenbacks strength against a basket of six currencies, recovered during later part of the day, up 0.41% at 106.75. Powered by Commodity Insights