Rupee opens flat at 83.12 against the US dollar
10-month low. It had closed at 83.13. Strong US services PMI data raised bets that the US Federal Reserve will keep interest rates elevated for longer, which lifted Treasury yields.
The US Institute for Supply Management (ISM) said its non-manufacturing purchasing managers' index (PMI) rose to 54.5 last month, the highest reading since February and up from 52.7 in July, Reuters reported. Euro fell 0.03% to $1.0723 after hitting lowest since June at $1.0703 in the previous session, while Sterling lost 0.07% to $1.24985, having also bottomed at a three-month trough of $1.24835. The Japanese yen was at 147.76 per dollar, while the offshore yuan was last marginally lower at 7.3241 per dollar, Reuters reported.
Meanwhile, crude oil prices eased, but Brent oil was still trading above $90 a barrel level, its highest since November 2022. Brent crude futures fell 0.26% to $90.36 a barrel while US West Texas Intermediate crude (WTI) futures declined 0.31% to $87.27. On the domestic front, the Indian stock market indices, Sensex and Nifty were trading flat with a negative bias in the pre-opening session.
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