INR trying to stabilize after recent losses
The Indian Rupee is trying to stabilize today following recent weakness though a nervous undertone in local equities kept overall mood tepid. INR tumbled earlier this week as India-US trade worries continued to weigh on the sentiments. US President Donald Trump stated on Friday that India charges massive tariffs and noted that the US can't sell anything in the country. This pulled Rupee well beyond 87 per US dollar mark. INR currently quotes at 87.25, down 4 paise on the day against the US dollar. Meanwhile, the US dollar index is hovering around five month low near 103 mark as worries over a US recession and cautiousness ahead of the inflation data weighed the index down.
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