Currency Buzz: INR softens even as NIFTY hits one and half week high

Indian Rupee slipped in early moves, holding onto a weak trajectory even as local stocks soared after the government announced significant GST rate cuts aimed at boosting festive season consumption and offsetting the impact of steep US tariffs. NIFTY50 jumped to one and half week high near 25000 mark following this. However, INR saw a tepid outing and currently quotes at 88.10, down 9 paise on the day. The US dollar index is holding above 98 mark, keeping INR under check. On the NSE, USD/INR futures are quoting at 88.3, up marginally on the day after witnessing some support around 88.10 mark.

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