The Indian rupee saw very tight moves amid broad weakness in the US dollar overseas. The broad focus has shifted to the upcoming Union Budget now and elevated crude oil prices are capping major gains in the local currency. US dollar index fell to a three week low under 104.50 following a tepid reading on US nonfarm payrolls. INR currently trades flat around 83.48 per US dollar. Local equities are marginally higher today but gains have been limited after recent surge. NIFTY hovers around 24400 mark.
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