INR slumps near 84 per US dollar mark as local stock indices lose more than 2%

Indian Rupee slumped today, adding to recent string of losses amid a hefty correction in local stock markets. INR currently quotes at 83.97, down 14 paise on the day against the US dollar. US dollar index broke above 101 mark as a recovery from 14 month lows stayed in place. Geopolitical scenario remained tense globally. US dollar index stayed supported amid this and currently quotes up 0.25% at 101.68. US dollar index is at three week high right now. Local stock market indices saw deep losses on Thursday, affected by declines across most sectors. New SEBI regulations for the F&O segment have raised concerns, dragging both NIFTY50 and SENSEX down by more than 2%.

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