INR Caught In Tight Moves, RBI In Focus

The Indian rupee is witnessing tight movement as it hovers near all-time lows against the US dollar today. Some gains were seen in early moves as US dollar index eased a bit after soaring for the last two sessions. The dollar index future that measures the greenback against a basket of currencies came off highs near 105 mark and is currently quoting at 104.56, almost unchanged on the day. Investors now await the first policy meeting of the RBI's rate-setting panel for FY25 scheduled this week from April 3-5, 2024. Meanwhile, INR currently quotes at 83.43, down marginally on the day. A sharp spurt in global crude oil prices with the Brent crude futures hitting five month high above $89 per barrel is also capping major gains in the INR.

Powered by Capital Market - Live News