Currency Buzz: INR Settles Marginally Higher

12 Sep 2022 , 04:57 PM

The Indian rupee pared its initial losses and settled 2 paise higher to close at 79.55 (provisional) against the US dollar on Monday, tracking positive domestic equities and foreign fund inflows. Meanwhile, the US dollar index fell considerably on Monday to hit a two week low as the currency stayed cautious ahead of the US inflation data due this week. The U.S. is set to release its consumer price index for August on Tuesday. The report is one of the last pieces of data on inflation the Fed will see ahead of its September meeting. The dollar index that measures the greenback against a basket of currencies was down 0.71% at 107.96. At the interbank forex market, the local unit opened at 79.66 against the greenback. It witnessed an intra-day high of 79.47 and a low of 79.72 during the session. It finally ended at 79.55, up 2 paise from its previous close of 79.57. Powered by Commodity Insights