Indian Rupee fell today, staying weak against the US dollar as local stock markets stayed slippery. INR currently trade at 86.95 per US dollar, down 7 paise on the day. INR had appreciated after hitting record lows near 88 per US dollar last week but the overall mood remains tepid for the local currency as equities continue to tumble. Indias foreign exchange (forex) reserves jumped $7.654 billion to $638.261 billion in the week ended February 7, according to the latest RBI data released on Friday. Reserves have dipped in recent weeks amid a sharp slide in the INR. Meanwhile, the US Dollar index currently quotes around 106.82, up 0.23% on the day and gaining from around two month low. Equities continue to see muted trades in India. The key domestic indices ended near the flat line on Monday. The Nifty settled below the 22,950 mark. Consumer durables, FMCG and auto shares declined while IT, oil & gas and metal stocks advanced.
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