INR stays weak amid slight recovery in US dollar index

The Indian rupee slipped after appreciating in last session. INR fell 9 paise to 86.43. There has been some recovery in the US dollar index as it holds above 108 mark following recent losses. Investors are still trying to assess the impact of Donald Trump presidency on broad trends in global trade and US economy. INR has been hit hard recently on worries over overseas investment flows and sliding forex reserves. Indias foreign exchange reserves have dropped for the sixth straight week, reaching a ten-month low of $625.87 billion as of 10 January, according to data from the Reserve Bank of India (RBI). This marks a decline of $8.72 billion against the previous week, continuing the slump from the all-time high of $704.89 billion recorded in September.

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