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Indian Rupee Hovers Around 83 Per US Dollar As Soaring Oil Prices Weigh

Published on Sep 15, 2023 12:57

The Indian Rupee stayed weak today despite of sustained array of gains for local equities as a sharp jump in global crude oil prices weighed on the currency. The US dollar index hit above 105 mark yesterday, jumping to a six month high and the INR was off to a tepid start today. The INR is lingering around 83 per US dollar mark in intraday moves and currently quotes at 83.05, down marginally on the day. The local currency market is also eying release of India`s foreign trade data to get an idea of the export - import trajectory. Domestic equity benchmarks traded with decent gains in early afternoon trade. The Nifty continued to hold above the 20,150 mark, holding onto the record territory. The WTI Crude oil futures have zoomed up to a 11 month high near $91 per barrel mark in Asia.

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