Currency Buzz: INR sees impressive gains even as local stocks stay weak

The Indian rupee extended its upmove, hitting more than two-month high on Thursday after a hefty amount of $136.4 billion raised under foreign currency non-resident bank (FCNR-B) deposit inflows. Slight moderation in Crude oil prices and lax undertone in the US dollar overseas also boosted INR as it neared 94.20 per US dollar mark in intraday trades. INR edged up even as the local stocks extended their losing spree and the NIFTY50 index fell to around six-week low.

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