The Indian rupee recovered from its all-time low level and appreciated 6 paise to close at 84.44 (provisional) against the US dollar on Friday, supported by positive domestic equities. The BSE Sensex witnessed a remarkable surge of over 2,000 points whilst Nifty50 crossed the 23,900 mark. BSE Sensex ended the day at 79,117.11, up 1,961 points or 2.54%. Nifty50 closed at 23,907.25, up 557 points or 2.39%. Nevertheless upside in the domestic currency was capped by US dollar index strength in the overseas market that rose above 107 mark and as oil continued to move up as fighting between Ukraine and Russia continued to gain investors’ attention. Moreover, foreign institutional investors have continued their equities selling mode and kept the dollar well bid.
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