INR eases back above 83.60 per US dollar mark

The Indian Rupee eased today as two-month highs failed to sustain. INR quotes at 83.66 per US dollar, down 11 paise on the day. INR is likely turning cautious ahead of the month end data on government finances and core sector growth. The US dollar index is muted around 100.50 right now. Economic cues were slightly soft. The headline HSBC Flash India Composite Output Index a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors dipped to 59.3 in September from 60.7 in August. The index pointed to another rapid monthly increase in business activity, albeit one that was the least pronounced in 2024 so far. Softer expansions were seen across both the manufacturing and services sectors.

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