INR Settles Higher As Greenback Pauses Rally

The Indian rupee appreciated 11 paise to settle at 83.46 (provisional) against the US dollar on Monday, supported by a positive trend in domestic equity markets and stable global crude oil prices. The benchmark S&P/BSE Sensex edged up 131.18 points, or 0.17 percent, to 77,341.08 while the broader NSE Nifty index closed at 23,537.85, up 36.75 points, up 36.75 points, or 0.16 percent, from its previous close. US dollar giving up some of its gains against major rivals overseas on Monday also helped the rupee. However, weak Asian markets and renewed geopolitical tensions in the Middle East capped sharp gains. At the interbank foreign exchange market, the local unit opened at 83.52 and hit the intraday high of 83.44 against the greenback during the session.