April, 30 2024 Tuesday 01:00 Hrs
  • SENSEX :   74,671.28

  • Commodity broking firm in India941.12( 1.28%) 29-Apr-2024

Pre Session Commentary - Detailed News

Indian Rupee: Nears Record Low Against US Dollar
16-Apr-24   08:16 Hrs IST
The Indian rupee fell yesterday, nearing record low against the US dollar amid continued selling pressure in local equities. The US dollar index futures are lingering around a five month high on worries over global risk appetite. INR has been falling after testing a two week high against the US dollar and closed at 83.44 per US dollar yesterday, down 6 paise on the day. The key equity indices ended with major losses on Monday owing to geopolitical concerns sparked by Iran's attack on Israel. The Nifty settled below the 22,300 level. Barring the Nifty Oil & Gas index, all the other sectoral indices on the NSE traded in the red. As per provisional closing data, the barometer index, the S&P BSE Sensex slipped 845.12 points or 1.14% to 73,399.78. The Nifty 50 index lost 246.90 points or 1.10% to 22,272.50. Overseas trade data was mostly muted. The Ministry noted that Merchandise exports in March 2024 were USD 41.68 Billion, as compared to USD 41.96 Billion in March 2023. Merchandise imports in March 2024 were USD 57.28 Billion, as compared to USD 60.92 Billion in March 2023. Despite persistent global challenges, overall exports (merchandise + services) estimated to surpass last year?s highest record. It is estimated to reach USD 776.68 Billion in FY 2023-24 as compared to USD 776.40 Billion in FY 2022-23. FY 2023-24 closes with highest monthly merchandise exports of the current FY in March 2024 at USD 41.68 Billion.

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