Indian Rupee Eases In Early Moves, NIFTY Nears Three Month Low

Published on Oct 23, 2023 12:12

The Indian Rupee has eased in early moves as weak undertone in local equities weighed on the sentiments. Risk off sentiment across the globe turned tepid amid steady gains in the US dollar as elevated geo political concerns in Middle East weighed on the activity. Asian stock markets are also trading mostly lower, following the broadly negative cues from global markets on Friday, with the US Fed signaling rates will remain higher for longer than previously anticipated. The benchmark domestic stock index NIFTY50 has dipped near a three week low and is keeping INR under check though overall mood in the rupee remains very choppy, mimicking the moves in last few days. The INR is currently quoting at 83.16, down 4 paise on the day. On the NSE, the USDINR futures are currently quoting at 83.15, up 0.05% on the day.