INR holds around 84 per US dollar, NIFTY hits one week top

Indian Rupee stayed supported around 84 per US dollar mark with sentiments mostly being steady amid a strong rally in local equities. The benchmark NIFTY50 index soared to one week high above 25200 mark. INR currently quotes at 83.98 per US dollar following this, almost unchanged on the day. The US dollar index continues to stay firmly above 101 mark after the release of US CPI inflation report. However, a recent slide in WTI Crude oil to near three year low is assisting INR and preventing further losses in the local currency. Markets are also waiting for the release of latest inflation and industrial output numbers from India.

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