Indian Rupee: Likely To Stay Pressured As Dollar Surges On Upbeat US CPI Report
Mumbai, Feb. 14 -- The Indian rupee is likely to stay under pressure in opening trades on Wednesday tracking a sharp upmove in dollar overseas. US benchmark treasury yields were hovering at 4.31% while dollar index was at 104.73 following higher than expected US inflation figures. US Consumer Price Index (CPI) inflation eased to 3.1% on annual basis in January from 3.4% in December, but above market consensus of 2.9%. On a monthly basis, the headline CPI increased 0.3% in January after rising 0.2% in December. The Core CPI, which excludes food and energy, rose 0.4% in January from a 0.3% increase in December. Lower local equities tracking negative global cues are also seen weighing on the domestic unit. On Tuesday, rupee settled flat at 83 ...
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