Currency Buzz: INR steady amid declining oil prices, WTI Crude slides 2%

The Indian Rupee is witnessing steady moves amid a slide in crude oil prices but volatile equities are keeping overall undertone choppy. The currency was supported by robust inflows through the foreign currency non-resident bank (FCNR-B) deposit route. This kept INR steady around 95.75 per US dollar mark as it tested around 95.65 per US dollar in intraday moves. The Indian rupee fell to its weakest level since late July last week before witnessing some support. WTI Crude oil futures tanked around 2% in Asia today as US President Donald Trump threatened sanctions on Iran's trading partners. On NSE, USD/INR futures are quoting at 95.66, down marginally on the day.

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