Rupee moves slightly up, USD/INR futures see good gains in intraday moves

Indian Rupee stabilized around one-month low against the US dollar amid weak equities. INR added 2 paise at 86.42 per US dollar right amid an overall choppy movement. The US dollar index added mild gains, maintaining above 97 mark. Local stocks saw considerable selling pressure today as earnings stayed in focus and the benchmark NIFTY50 index slipped around 0.60% on the day. Economic cues were steady for the INR. At 60.7 in July, the HSBC Flash India Composite Output Index was little-changed from June's final print of 61.0 and therefore signalled another substantial rate of growth. Moreover, the headline figure remained well above its long-run average of 54.8. Meanwhile, Reserve Bank of India (RBI) stated in its latest monthly bulletin that high-frequency indicators for overall economic activity showed mixed signals in June but signalled steady demand conditions. On the NSE, USD/INR futures shed 0.02% at 86.55 but saw good recovery after falling near 86.30 mark in intraday moves.

Powered by Capital Market - Live News