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INR Trades Flat Just Under 83 Per US Dollar

Published on Feb 09, 2024 11:50

The Indian rupee is witnessing very thin trades as a firm US dollar is capping the movement in the local currency. Rupee trades at 82.99 per US dollar right now, down marginally on the day. The currency closed on a flat note at 82.96 (provisional) against the US dollar on Thursday, after the Reserve Bank decided to keep the key policy rate unchanged for the sixth time in a row to maintain a tight vigil on inflation. Negative trend in domestic equities also weighed on investor sentiments. The benchmark S&P BSE Sensex fell 723.57 points, or 1.0 percent to 71,428.43 while the broader NSE Nifty index dropped 212.55 points, or 0.97 percent, to 21,717.95. The US dollar index is currently quoting at 104.08, up marginally on the day right now and risk sentiment is mixed in Asia. INR is likely to see restrained moves as traders are also bound to track the recent jump in WTI Crude oil futures. The commodity soared more than 3% in last session to hit a one week high above $76 per barrel.

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