Indian Rupee gains as US dollar index hovers near one-week low

Indian Rupee edged up today as weak US dollar boosted the local currency despite tepid cues from the local equities. The annual rate of growth by the PCE price index slowed to 2.1 percent in April from 2.3 percent in March. The annual rate of growth by the core PCE price index also slowed to 2.5 percent in April from 2.7 percent in March. The soft US PCE reading weighed on the US dollar index and also pulled down the treasury yields. The US dollar index is trading around one-week low under 99 mark. INR gained following this and is up 15 paise at 85.40 per US dollar. On the NSE, USD/INR futures are down 0.13% at 85.58 right now.

Powered by Capital Market - Live News