CSS News     24-Jun-24
Indian Rupee: Likely To Be Pressured By Firm Dollar Overseas

The Indian rupee is likely to come under pressure in opening trades on Monday following a decent recovery from record low levels hit last week. Dollar standing tall after US data showed private sector activity accelerated in June, could weigh on the counter. The dollar index futures are holding at 105.50 as recent US data points to possibility that Fed could hold rates for longer. Meanwhile, expectations of a muted start to local equities tracking weak Asian and global peers could also weigh down the local unit to some extent. On Friday, rupee recovered from over two months low level and settled 6 paise higher at 83.55 against the US dollar. The benchmark S&P/BSE Sensex ended the session down 269.03 points, or 0.35 percent, at 77,209.90. The broader NSE Nifty index settled 65.90 points, or 0.28 percent, lower at 23,501.10.

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