INR Settles Flat As Gains From Positive Equities Were Offset By Elevated Oil Prices
The Indian rupee stayed range-bound and settled 1 paisa lower at 83.49 (provisional) against the US dollar on Friday, as the support from positive domestic equities was negated by elevated crude oil prices. The benchmark S&P BSE Sensex ended the session up 260.30 points, or 0.36 percent, at 72,664.47 after succumbing to heavy selling pressure in the previous session. The broader NSE Nifty index closed up 97.70 points, or 0.44 percent, at 22,055.20. Significant foreign fund outflows also dented investors' sentiments. At the interbank foreign exchange market, the local unit traded in a narrow range. It opened at 83.48, and touched an intraday high of 83.46 and a low of 83.51 during the day. The domestic unit finally settled for the day at 83.49 (provisional), down 1 paisa from its previous close.
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