The Indian rupee is witnessing flat moves today as it lingers just under record low against the US dollar today. INR gained a bit in last session and currently quotes at 87.63 per US dollar, unchanged on the day. The US dollar index fell under 98 mark, sliding from one-week high after a lukewarm US inflation data. This is supporting the INR though sustained fall in local inflation is also being factored in by the market participants as a key factor now. Consumer price inflation in India slipped to 1.55% in July 2025, the lowest since June 2017, and below the Reserve Bank of India's comfort band of 2-6%, primarily due to a contraction in food prices. On the NSE, USD/INR futures are trading flat around 88 mark right now.
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