Currency Buzz: INR gains impressively as local stocks soar

The Indian Rupee soared today as a spike in local equities and falling crude oil prices made the INR record its best single session gain in over a month. INR spiked 60 paise to 95.94 per US dollar. It tested a high under 95.80 per US dollar in intraday moves. The headline NIFTY50 index had tested around six-week low in last session but edged up impressively today and clocked a gain of nearly 1%. Dollar index eased and currently trades down marginally at 101.10. WTI Crude is down 7% at $83 per barrel.

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