Forex Market News

Indian Rupee Spot Depreciated

In the yesterday’s trading session, the Indian Rupee spot depreciated marginally by 0.05 percent on account of limited demand for the US Dollar by importers and banks. Domestic markets i.e. Sensex and Nifty traded lower as worries with respect to GST bill weigh on investor’s sentiment.
There was a selling pressure seen in PSU banking shares over concerns about provisioning for defaulted loans. Today, USDINR spot is likely to appreciate tracking gains in Asian market equities.
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