INR SEES CAUTIOUS MOVES AHEAD OF WEEKEND, DOLLAR EASES

Published on Nov 24, 2023 12:21

The Indian rupee is witnessing cautious moves ahead of the weekend as thin trading due to the Thanksgiving Holiday in global markets yesterday is capping major moves in fx markets. Investors now eye US manufacturing and services PMI due later today. The dollar index was quoting at 103.60, down 0.19% on the day. INR has been trapped in a tight range this week and currently quotes at 83.36 against the US dollar, down marginally on the day. Crude oil futures stay slippery with the WTI hovering around $76.40 per barrel mark in Asia. This could cap the losses in INR. Local markets will also be waiting for the data on forex reserves and government finances. On the NSE, the USDINR futures are currently quoting at 83.37, up 0.02% on the day.