Rupee adds modest gains, USD/INR hovers just above 88.60 mark

The Indian rupee edged up a bit after falling in last session as traders eyed the recent strength in the local stock markets and hopes of a US-Indian trade deal. INR lost around 20 paise to 88.68 per US dollar on Thursday, as the US dollar's recovery capped the domestic unit's upside. However, INR started on a steady note today and witnessed modest strength to approach 88.64 per US dollar, up around 4 paise on the day. Markets eyed a sharp slide in the WTI Crude oil futures, which tested a multi-week low under $60 per barrel. Meanwhile, media reports stated that Reserve Bank of India (RBI) Governor Sanjay Malhotra said during a recent speech that the central bank's foremost priority and key objective is to ensure financial stability in the system. On NSE, the USD/INR futures are trading at 88.65, down 0.09% on the day.

Powered by Capital Market - Live News