CSS News     27-Jun-24
Indian Rupee: Upside Likely To Be Limited By Firm Dollar Overseas

The Indian rupee saw mild recovery in opening trades on Thursday although firm dollar overseas and muted global cues for equities are likely to limit upside. US benchmark treasury yields climbed above 4.3% for the first time in two weeks and dollar index futures are currently hovering at 105.64, marginally down after a 0.4% spike yesterday. Yesterday, rupee depreciated 17 paise against the US dollar and settled at 83.60 (provisional). The benchmark S&P/BSE Sensex jumped 620.73 points, or 0.80 percent, to 78,674.25 while the broader NSE Nifty index closed at 23,868.80, up 147.50 points, or 0.62 percent, from its previous close. Investors now focus release of the final US Q1 GDP print and the Personal Consumption Expenditures (PCE) for further cues.

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