INR depreciates to 3-week low near 86 per dollar mark

The Indian rupee depreciated near a three week low and hit beyond 86 per dollar mark during intraday moves on Monday amid a rise in global crude oil prices and a strengthening greenback. INR fell 18 paise to close at 85.98 (provisional) at the interbank spot market against the US dollar. Foreign fund outflows and delay in any breakthrough in the India-US trade deal further pressured the local unit. At the interbank foreign exchange, the local unit opened at 85.96 and traded in a narrow range of 85.92-86.05 during the day. Indian shares ended Monday's session lower as U.S. President Donald Trump escalated his trade offensive, leading to increased volatility in global markets and prompting investors to seek refuge in safe-haven assets. The benchmark S&P/BSE Sensex ended the session down 247 points, or 0.30 percent, at 82,253 while the broader NSE Nifty index closed down 67 points, or 0.27 percent, at 25,082. On the NSE, USDINR futures ended at 86.02.

 

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