Currency Buzz: INR falters in opening trades

The Indian rupee faltered on Monday morning as the domestic currency slumped by 0.18% to 86.34 against the dollar after opening lower at 86.27. Rebound in international crude oil prices and expectation of muted opening in local equities are seen weighing on the currency. On Friday, rupee gave up initial gains to settle 4 paise lower at 86.16 against the US dollar, dragged by foreign fund outflows, rising global crude oil prices and a steep decline in domestic equity markets. Meanwhile, Indian shares fell notably on Friday, with uncertainty over U.S. tariffs and a muted start to the quarterly earnings season weighing on markets. The benchmark S&P/BSE Sensex fell 501.51 points, or 0.61 percent, to 81,757.73 while the broader NSE Nifty index closed at 24,968.40, down 143.05 points, or 0.57 percent, from its previous close.

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