INR flat in morning moves, dollar index softens under 98 mark

The Indian rupee is witnessing flat moves today as it lingers just under record low against the US dollar today. INR gained a bit in last session and currently quotes at 87.63 per US dollar, unchanged on the day. The US dollar index fell under 98 mark, sliding from one-week high after a lukewarm US inflation data. This is supporting the INR though sustained fall in local inflation is also being factored in by the market participants as a key factor now. Consumer price inflation in India slipped to 1.55% in July 2025, the lowest since June 2017, and below the Reserve Bank of Indias comfort band of 2-6%, primarily due to a contraction in food prices. On the NSE, USD/INR futures are trading flat around 88 mark right now.

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