INR Extends Break Above 83 Mark Against Dollar, Risky Assets Under Stress

Published on Aug 21, 2023 12:02

The Indian rupee fell further today; adding to recent wave of losses and stayed near record low against the US dollar. The sentiments in risky assets stayed pale as China`s Shanghai Composite index slipped to lowest in eight months and rising bond yields in US and other advanced economies are bound to cap the demand for risky assets in near term. The dollar index continues to hold well above 103 mark ahead of Federal Reserve Chair Jerome Powell`s address at the central bank`s annual symposium in Jackson Hole, Wyoming later this week. The Indian Rupee currently quotes at 83.11, down 7 paise on the day and extending the break above 83 mark. On the NSE, the USDINR futures are quoting marginally up at 83.14.