Indian Rupee: Consolidates Around One Month High

The Indian Rupee stayed supported today after hitting a one month high as strong cues from local equities buttressed the sentiments. The NSE USD/INR futures for June are currently hovering at 67.18, down 0.20% on the day. The INR is hovering around 67.06 mark in global markets, adding marginal gains though the undertone remains positive. The US dollar index is trading at 93.77, down 0.10% on the day. Meanwhile, the local equities extended their recent gains. Sensex regained the psychologically important 35,000 mark in morning trade. Traders are keeping a close watch of the central banks policy decision later today. The Reserve Bank of Indias (RBI) Monetary Policy Committee (MPC) began the second bi-monthly monetary policy meeting on Monday, 4 June 2018. The resolution of the MPC will be unveiled at 14:30 IST today, 6 June 2018. Overseas, Asian stocks were mixed as investors digested trade-related developments and the mixed close on Wall Street.