Indian Rupee eased a bit today as sustained gains in the US dollar index weighed on the local currency. The US dollar index hit a one-year high, breaking well above 100 after a hawkish tilt by the Federal Reserve earlier this week. Local equities also fell today as IT counters tumbled and NIFTY50 index has lost around 1%. This pulled INR under pressure as the currency came off its five-week high and currently quotes at 94.42, down 2 paise on the day. The key domestic indices ended with moderate gains on Thursday, extending gains for fifth consecutive trading session, supported by easing crude oil prices and improving global sentiment. However, today's correction has ensured to cap advances in NIFTY50 as the index has slipped from a six-week high.
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