INR Holds Around One Year High

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Money Market Guru — INR Holds Around One Year High — Indian Rupee managed to remain near one year high today. The local currency appreciated sharply last week as the equity markets jumped. Key benchmark indices closed with small gains on the final trading session of the last week as reports suggesting that the Goods & Services Tax (GST) Council cleared all legislations required for launching GST regime from July supported gains on the bourses.

Nifty hit record high in closing and intraday basis. The Sensex hit its highest closing level in more than two years. A spurt in index heavyweight and cigarette maker ITC helped indices keep afloat in the positive terrain. IT stocks gained. Meanwhile, some correction was witnessed in the local equities today, keeping INR under check too. The USD/INR futures are currently lingering around 65.45 levels. US dollar index is currently trading around 100 levels- its lowest mark in nearly seven weeks. — Money Market Guru — Pia

INR Holds Around One Year High | Money Market Guru | Pia