INR rallies against US dollar after recent slide
Indian Rupee saw good gains today as firm local equities boosted the currency after it tested a three-month low against the US dollar in last session. The US dollar index is witnessing choppy moves as it holds around 98.30 mark. INR approached at 86.56 per US dollar, up 17 paise on the day. Meanwhile, global geopolitical scenario remains uncertain but the Crude oil prices are mostly holding in a range this week following a freak spike to six-month high. This is capping weakness in INR. NIFTY50 index also spiked today, hitting one-week high above 25000 mark and offered good support to INR. The dollar index eased from one-week high.
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