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Indian Rupee: INR Sees Choppy Moves

Indian Rupee: INR Sees Choppy Moves

May 24, 2022 9:06 IST | capital market
The Indian Rupee saw choppy moves after recent slide.The INR is witnessing tepid moves after testing all-time lows against the US dollar. Indias forex reserves fell by 2.68 billion to around $593.2 billion for the week ended May 13 with a sizable contraction of gold reserves aiding the fall, show latest data from the Reserve Bank of India. The foreign currency assets fell by 1.3 billion. The domestic equity benchmarks ended near the flat line, with some negative bias on Monday. The Nifty closed below the 16,250 mark. While metal stocks witnessed sharp sell-off, IT and auto shares managed to close in the green.Powered by Commodity Insights

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