INR slightly lower against US dollar as equities ease

Indian Rupee is slightly lower today, giving up some of the recent gains. INR edged up impressively in last few days amid soaring local equities and mixed movement in the US dollar index. Indian equity indices registered strong gains, hitting fresh record highs during the last week. Rupee neared 83 per US dollar mark following this, hitting two month high. However, the local currency eased today as a rebound in crude oil prices and slight moderation in equities weighed. INR currently quotes at 83.17 per US dollar, down 4 paise on the day. NIFTY is quoting just under 23000 mark today, coming off record highs. The US dollar index is flat around 104.39, lingering around one week low.

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