INR sees modest gains, US dollar index holds around one-week high

The Indian rupee saw modest gains but held just under record low against the US dollar today. INR ended up 4 paise from previous close around 87.70 per US dollar. The US dollar index is holding around 98.40 mark, staying around one-week high as markets eyed the release of US inflation data. Local currency has been holding in a choppy range recently after tanking to record lows near 88 per US dollar mark. Worries over overseas investment flows stay in place as Foreign Institutional Investors (FIIs) net investment stood at Rs 17741 crore from Indian equities during July 2025, signaling a sharp reversal from an inflow of Rs 14590 crore in the previous month.

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