INR slips against US dollar in choppy trades

The Indian rupee fell around 12 paise to close at 88.62 against the US dollar on Wednesday, weighed down by the strength of the American currency in the overseas market. Losses were somewhat curbed as Indian shares rose notably on Wednesday. The domestic equity benchmarks ended with major gains, extending their winning streak to the third consecutive session. Sentiment remained upbeat on optimism over a potential trade agreement with the US and the reopening of the American government. The Nifty settled above the 25,850 mark. IT, auto and consumer durable shares advanced. INR is down in early moves today as well, sliding around 6 paise to 88.69 per US dollar. The US dollar index is flat around 99.40 mark and will likely to tracking and end to the historic US government shutdown. On NSE, USD/INR futures are quoting at 88.73, up marginally on the day amid an overall choppy action.

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