INR continues to stay strained amid firm dollar, muted equities

The Indian rupee continues to stay strained amid firm dollar overseas and muted show by local equities. INR opened marginally higher at Rs 89.88 per dollar but slumped to a low of 89.99 so far during the day. Local equities extend losses in early Asia after benchmark indices fell around 1% yesterday. NSE benchmark Nifty is down 0.15% under 26k mark whereas BSE Sensex is marginally down at 84,110. FIIs net sold shares worth Rs 3,367 crore on Thursday, while domestic institutional investors net bought shares to the extent of Rs 3,701 crore, as per provisional data on exchanges. Rising international oil prices amid renewed geopolitical tensions are also weighing on the counter. Yesterday, rupee fell 7 paise to settle at 89.94 (provisional) against the US dollar.

 

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