INR tumbles to 86 per US dollar, focus stays on equities and dollar
Indian Rupee slumped today as a firm US dollar clubbed with lax local equities weighed the currency down. The dollar index is holding above 99 mark on Wednesday with focus on US nonfarm jobs data due on Friday. The dollar index that measures the greenback against a basket of currencies is quoting at 99.28, up 0.12% on the day, recovering from a six-week low yesterday as it clocked a 0.53% spurt for the session. INR was pressured following this in early moves and swiftly fell to 86 per US dollar mark. It currently quotes at 85.97 per US dollar, down 36 paise on the day. INR/USD futures on the NSE are quoting at 86.03, up 0.35% on the day. Meanwhile, the local equities are up slightly today but overall mood is cautious after a recent slide that made NIFTY50 close at a two-week low in last session.
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