INR hits two month high against US dollar as break under 88 mark extends

The Indian Rupee rallied to around two-month high against the US dollar today as markets eyed recent strength in the local stock markets and hopes for a US-India trade deal kept overall mood positive for the currency. INR has gained this week despite good strength in the US dollar overseas as the dollar index has vaulted near 99 mark. INR currently trades at 87.72 per US dollar, up 16 paise on the day after nearing 87.60 per US dollar mark earlier in the session. On the NSE, USD/INR futures are trading at 87.71, down 0.20% on the day.

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