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Indian and Pakistani Rupees Nudge Higher on Feb. 18

Foreign equity inflows provided limited support to the rupees.

Overview

  • Pakistan’s rupee settled at 279.57 per US dollar, a Re0.03 gain from 279.60, according to the State Bank of Pakistan.
  • India’s rupee closed at 90.68 to the dollar, up 4 paise after a narrow 90.59–90.71 intraday range.
  • Foreign institutional investors bought ₹1,154.34 crore of Indian equities as the Sensex rose 283.29 points to 83,734.25 and the Nifty added 93.95 to 25,819.35.
  • A firm US dollar limited larger currency gains, with the dollar index hovering near 97.22 during Wednesday’s session.
  • Oil prices steadied, with Brent around $67.6 a barrel and WTI near $62.5, while markets monitored upcoming Fed minutes and USIran talks.