Currency Buzz: INR Recovers On The Back Of Dollar Weakness

27 Sep 2022 , 05:06 PM

Weakness in the greenback supported gains in the Indian rupee that settled higher by 9 paise at 81.58 (provisional) against the US dollar on Tuesday. At the interbank forex market, the local unit opened at 81.45 against the greenback. It witnessed an intra-day high of 81.30 and a low of 81.64 during the session. It finally ended at 81.58, up 9 paise from its previous close. The dollar index paused rampant rally on Tuesday as investors booked profit, but still stayed near fresh two decade peaks hit in the previous session. The dollar index that measures the greenback against a basket of currencies was quoting lower by 0.43% at 113.53, having spiked to a high of 114.41, a fresh 20 year peak yesterday. Benchmark US treasury yields also pulled back slightly but stay close to 3.9%.Powered by Commodity Insights