USDINR FUTURES SETTLE LOWER AMID CHOPPY TRADES

Published on Aug 07, 2023 17:34

USDINR futures on NSE settled lower for the day amid choppy trades on Monday even as dollar clung on to gains. The dollar index that measures the greenback against a basket of currencies was hovering above 102 mark. The NSE August contract ended at 82.79 down 0.12% on the day. Meanwhile, in the spot market, rupee gained 5 paise to close at 82.76 (provisional) against the US dollar, tracking positive domestic equities. However, sustained foreign fund outflows and a stronger American currency in the overseas market dented investor sentiments. RBI`s interest-rate decision and the release of industrial output data due this week will also be watched for further cues. At the interbank foreign exchange market, the local unit opened at 82.73 against the US dollar and moved in a range of 82.71 to 82.77 in the day trade.