The Indian rupee managed to recover some momentum in opening trades on Monday as dollar steadied and oil prices retreated. INR opened at Rs 95.86 per dollar and hit a high of 95.74 so far during the day. The rupee closed lower by 7 paise at 95.96 against the US dollar on Friday amid a strong American currency and high crude oil prices. The dollar index steadied around 100.2 on Monday after surging last week, with investors awaiting several appearances by Federal Reserve officials this week for further clues on the outlook for monetary policy. Meanwhile, the benchmark indices started today’s session on a mixed-to-flat note. The NSE Nifty 50 opened slightly lower at 23,330.20 (down from its previous close of 23,346.40), while the BSE Sensex rose marginally by 0.3% in the pre-open window to open around 74,575.24.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.