Indian Rupee slides to one-month low against US dollar

Indian Rupee declined to 86.36 per US dollar today, sliding to one month low amid a sustained corrective action. The currency trades at 86.24 per US dollar right now, down 8 paise on the day. On the NSE, USD/INR futures are up 0.11% at 86.27. The Indian rupee gave up initial gains to settle 4 paise lower at 86.16 against the US dollar on Friday, dragged by foreign fund outflows, rising global crude oil prices and a steep decline in domestic equity markets. Meanwhile, the US Dollar index gave back recent gains and is quoting marginally lower at 98.06. Local equities are choppy after losing in last session amid uncertainty over US tariffs and a muted start to the quarterly earnings season.

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