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INR Weakens Against US Dollar In Choppy Trades

Published on Nov 07, 2023 11:56

The Indian rupee stayed under pressure today amid a bounce in the dollar index which rebounded above 105 mark on the back of renewed gains in US benchmark treasury yields. INR had added mild gains in last session but was back to losing ways today and currently quotes down 5 paise at 83.26 per US dollar mark. On the NSE, USDINR futures are up 0.06% at 83.28 amid an overall choppy range. Meanwhile, India�s foreign exchange reserves jumped $2.579 billion to $586.111 billion in the week ended October 27, according to the latest RBI data. In the previous reporting week, the overall reserves had dropped by $2.363 billion to $583.532 billion. For the week ended October 27, the foreign currency assets, a major component of the reserves, increased by $2.303 billion to $514.504 billion, according to the Weekly Statistical Supplement released by the RBI.

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