INR gains marginally, forex cover remains adequate

Indian Rupee is holding steady after breaking under 88 per US dollar mark amid firm equities and hopes of a trade deal with the US. INR currently quotes at 87.88, up five paise on the day. Meanwhile, RBI stated that Indias foreign exchange reserves remained adequate, providing a cover for more than 11 months of goods imports and for about 93 per cent of the external debt outstanding at end-June 2025.

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