INR slips marginally; Falling crude prices cushion downside

The Indian rupee declined by 4 paise to settle at 83.70 against the US dollar on September 27, 2024, amid subdued domestic equity markets and increased month-end demand for the dollar. Despite hitting record highs earlier in the day, the BSE Sensex and NSE Nifty closed lower due to profit booking. The Sensex ended at 85,571.85, down 264.27 points, while the Nifty closed at 26,178.95, down 37.10 points. Falling crude oil prices and renewed foreign fund inflows cushioned the rupee’s decline. The rupee traded in a narrow range, reflecting the mixed market sentiment and the impact of global economic factors on the local currency.