INR holds flat around 83.50 per US dollar

Published on Jul 08, 2024 14:21

The Indian rupee saw marginal gains amid broad weakness in the US dollar overseas. However, muted local equities following sharp gains last week could add some pressure in the domestic unit. On Friday, rupee pared initial gains and settled for the day almost flat at 83.49 against the US dollar. It is currently trading around the same mark. US dollar index fell to a three week low under 104.50 following a tepid reading on US nonfarm payrolls. Risk sentiment is mixed globally today as markets assess the overall global interest rates scenario and political developments in Europe weigh on the proceedings.