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Indian Rupee Softens Amid Modest Correction In Nifty50

Published on Aug 25, 2023 12:07

The Indian Rupee softened today, giving up some of the latest array of gains as local equities eased and the US dollar maintained its sharp upmove in global markets. INR has soared this week after breaking under 83 per US dollar mark despite firm US dollar but the trend seems to be reversing now. The INR is currently quoting at 82.65 per US dollar, down around 9 paise on the day after hitting three week high of 82.41 per dollar in last session. The US dollar index is holding above 104 now after hitting a two and half month high of 104.22 earlier in the session. The NIFTY50 index is in red, down 0.39% amid mostly feeble risk appetite globally. The NSE USDINR futures are currently up 0.10% at 82.66 amid a mostly choppy movement so far today.

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