INR GAINS CAUTIOUSLY AGAINST US DOLLAR

Published on Jan 30, 2024 12:00

The Indian rupee saw mild gains in early moves today after a moderate correction in last session. The US dollar index eased a bit after nearing its six week top but continued to stay above 103 mark as investors turned cautious ahead of the Federal Reserve�s monetary policy decision on Wednesday. INR tracked higher local equities though rising oil prices and month end dollar demand could cap upside in the local unit. The INR currently quotes at 83.11 per US dollar, up 4 paise on the day with the focus shifting onto the upcoming Union Budget 2024. Economic data on public finance and core sector is also lined up.