The partially convertible Indian rupee gained ground against the US Dollar on Thursday morning trade, after stooping to the lowest-ever point earlier this week. This happened right after the conflicts between Russia and Ukraine cooled off a bit in aspiration of an imminent resolution.
The domestic currency gained 48 paise so far in today’s trade and was last seen at 76.08 against the US Dollar. It moved in a band of 76.0800-76.4150/$ so far in the day.
The local currency also gained some composure with BJP’s lead in UP with 248 seats, followed by SP (112 seats), and ADAL (12 seats). This hints at a likely comeback of the BJP in the Uttar Pradesh region.
In a recent update, a Russian government official stated on Wednesday that the Russian government does not intend to take over the Ukrainian government, this boosted the hopes of conflict ending soon. All these developments globally and domestically lent support to the domestic equities.
The US Dollar index advanced 0.13% in today’s trade at 98.09 points against its previous closing of 97.97 points.
On the international front, Brent Crude oil future was trading at $112.61 points, with an increase of 1.32% against its previous closing price. WTI Crude Oil's future was at $110.41 per barrel.
Indian benchmark indices elate as the global tensions ease off. BSE Sensex was trading at 55,847.47 points, up by 1200 points against its previous closing of 54,647.33. NSE Nifty jumped 341 points at 16,687 points against its previous closing of 16,345 points.
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