Mumbai, May 19 -- The Indian rupee has edged up in early moves today following a feeble undertone in the US dollar. The US currency is under pressure after Moody's Ratings downgraded the US credit rating one notch from Aaa to Aa1. The US dollar index is quoting at 100.56, down 0.40% on the day. INR quotes at 85.49, up 8 paise on the day after modest losses in last session. Local equity indices held near seven-month high, lending decent support to the INR. On the NSE, USD/INR futures are quoting at 85.50, down 0.13% on the day after initial volatility pushed it towards 85.70 mark.

Published by HT Digital Content Services with permission from Capital Market....