iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Indian Rupee: Soaring Covid Cases Count In Focus

14 Jan 2022 , 09:10 AM

The Indian Rupee stayed supported, holding onto the recent gains amid sliding US dollar and firm local equities. INR closed at 73.89 per US dollar today, up 3 paise on the day and holding around a multi month high. The benchmark NIFTY50 equity index hit around two and half month high, keeping INR supported. Benchmark indices ended with small gains on Thursday and extended their winning run to fifth consecutive trading session. The Nifty managed to end above the 18,250 level. Metal, pharmaceutical and auto stocks saw demand while realty, banking and financial shares corrected. INR has been supported in last few days as markets are hopeful of a revival in overseas investments as December quarter earnings get underway. Meanwhile, the US Dollar Index broke under 95 mark, extending recent losses as ambiguity around the US monetary policy direction grew. Dollar index tanked after ECB said today that Eurozone growth is expected to rebound strongly over the course of 2022. Soaring Covid cases in India could weigh on INR in near term. Fresh Covid-19 cases in India rose 7% on day to nearly 2.64 lakh yesterday.

Powered by Commodity Insights

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248, DP SEBI Reg. No. IN-DP-185-2016
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.