INR Sees Muted Moves, Local Equities Tumble

22 Aug 2022 , 05:05 PM

The Indian rupee saw muted trades today amid selling pressure in local equities. INR saw flat moves and lingered around 79.85 per US dollar mark. The US dollar index hit a fresh five-week high on Monday after another Federal Reserve official flagged the likelihood of continued aggressive monetary tightening ahead of the central banks key Jackson Hole symposium this week. The headline equity indices ended with deep cuts on Monday. Negative global cues dampened the investors sentiment. The Nifty slipped below the 17,500 level. Selling was wide spread, with realty, metal and PSU bank stocks declining the most. As per provisional closing data, the barometer index, the S&P BSE Sensex, was down 872.28 points or 1.46% to 58,773.87. The Nifty 50 index lost 267.75 points or 1.51% to 17,490.70. Powered by Commodity Insights