Indian Rupee fell today as some weakness in local stocks weighed on the currency. INR currently trades at 85.67 per US dollar, down 8 paise on the day. The US dollar edged up a bit after dropping to lowest level in over three and half years. Fed Chair Powell reaffirmed a data-dependent stance while acknowledging tariff-linked inflation as a limiting factor. The Senate’s narrow approval of a tax-and-spending bill, projected to balloon the national debt by $3.3 trillion, added to market anxiety and kept the US currency under check. Meanwhile, the domestic equity benchmarks ended with modest losses today, weighed down by ongoing uncertainty surrounding the India-US trade talks. Investors remained cautious, adopting risk-off approach. As per provisional closing data, the barometer index, the S&P BSE Sensex, fell 287.60 points or 0.34% to 83,409.69. The Nifty 50 index lost 88.40 points or 0.35% to 25,453.40.
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