INR eases further as rising crude oil weighs

Indian rupee continued to ease today amid a modest spell of weakness in the local equities and thin activity in world markets. INR has been falling rising near three-week high against the US dollar. Quarter and year end trades saw steady demand for the dollar and INR dropped 14 paise to 89.85 per US dollar. There is a modest pick-up in the WTI Crude oil futures, weighing the INR down despite weakness in the US dollar. The US dollar index trades well under 98 mark today, holding around ten-week low. On the NSE, USD/INR futures are quoting at 89.83, up 0.06% on the day after a firm start as it quoted well above 89.90 mark in the early moves.

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