INR slips beyond 86 per dollar mark in opening trades

The Indian rupee commenced on a pessimistic note easing beyond 86 mark on Wednesday tracking renewed gains in the dollar overseas. The dollar index firmed up near a three-week high above 98 mark as investors awaited the latest producer price index report after hot inflation data pared back expectations of Fed interest rate cuts this year. INR opened at Rs 86.02 per dollar and slipped further to a low of 86.05 so far during the day. Yesterday, rupee appreciated 16 paise to close at 85.76 against the US dollar. The key equity indices ended with moderate gains, snapping a four-day losing streak, amid buying interest and encouraging domestic data. Investors will continue to monitor domestic macroeconomic indicators, global tariff-related cues, and corporate earnings announcements. The Nifty settled above the 25,150 mark. Meanwhile, an Indian commerce ministry team is in Washington for another round of talks on the proposed bilateral trade agreement (BTA). The four-day talks, which started on Monday, will conclude on Thursday.

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