INR Stays Muted Near Record Lows

Published on Dec 13, 2023 07:46

The Indian rupee could eke out small gains in opening trades on Wednesday as dollar is seeing a mild pull back following US inflation overnight and ahead of FOMC year end meet scheduled for the week. The dollar index that measures the greenback against a basket of currencies is at 103.43. Sharp slide in international crude oil prices and overnight rally in equities are also likely to support the domestic unit to some extent. On Tuesday, rupee settled flat at 83.37 against the US dollar. Meanwhile, selling pressure in the domestic equity markets dented market sentiments. The benchmark S&P BSE Sensex dropped 377.50 points, or 0.54 percent, to 69,551.03 while the broader NSE Nifty index settled 0.43 percent lower at 20,906.40. On the NSE, USDINR continue to stay flat at 83.40.