INR stays slippery despite firm equities

The Indian rupee stayed slippery and lingered under record low against the US dollar today. INR currently quotes at 87.76, down 16 paise from previous close. The US dollar index is holding around 98.10 mark, up marginally on the day, recovering further from a two-week low. The ongoing challenges to the India-US trade relationship are keeping a lid on INR despite firm moves in local equities today. Markets also waited for US and Indian inflation data releases. On the NSE, USD/INR futures rose 0.10% at 87.79.

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