INR weakens further as merchandise trade deficit hits five month high

Indian Rupee added to yesterday's losses today and currently trades at 85.64 per US dollar, down 10 paise on the day. It eased in volatile trades against the US dollar yesterday, sliding in tune with the bond yields. The US dollar Index is down modestly around 100.50 mark but the INR is not witnessing any appreciation. Overseas trade remained a critical factor as Indias merchandise trade deficit in April widened to a five-month high of $26.42 billion.

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