Inr Weakens Near 94.50 Per Us Dollar, Local Equities Slide

08-May-26   17:31 Hrs IST
INR slipped today amid weak equities as global geopolitical scenario remains tense and crude oil prices edged up from two-week lows. INR shed 24 paise at 94.46. US dollar index slipped under 98 mark as uncertain US-Iran peace talks is capping the currency. Dollar index is not very far from three-week lows and near-term sentiment appears cautious ahead of the release of US nonfarm payrolls today. Meanwhile, media reports noted that the US federal trade court has ruled against President Donald Trump's latest 10% global tariffs. The domestic equity benchmarks ended with sharp losses on Friday, extending their decline for the second consecutive trading session, as escalating geopolitical tensions surrounding the US-Iran conflict weighed heavily on investor sentiment. As per provisional closing data, the barometer index, the S&P BSE Sensex dropped 516.33 points or 0.66% to 77,328.19. The Nifty 50 index lost 150.50 points or 0.62% to 24,176.15. On NSE, USD/INR futures rose 0.24% to close at 94.86.

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