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Rupee Locked In Volatile Moves As Markets Eye Key Data Releases

Published on Aug 31, 2023 12:24

The Indian Rupee continued to see volatile trades amid slippery local equities today. The INR edged up near 82.60 per US dollar in early trades before giving up and currently quotes at 82.67, down 4 paise on the day. Local currency markets are firmly focused on a barrage of important economic releases including June quarter GDP, monthly fiscal deficit and core industries data due today. The global economic calendar is also heavy due to the release of US personal consumption expenditure data today and US nonfarm payrolls data tomorrow. The flood of global PMI data will also be critical for fx markets tomorrow. This is making the overall scenario choppy. On the NSE, the USDINR futures are quoting at 82.75, up marginally on the day after testing 82.66 per US dollar earlier in the session.

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