On a week-on-week basis, the US Dollar Index (DX) weakened around 0.7 as better-than-expected pending home sales and consumer spending overshadowed the unfavorable unemployment claims and lower-than estimated economic growth data from the country which led to upbeat sentiments in the US markets. The Indian Rupee (INR) witnessed depreciation of almost 1 percent in the last week taking cues from weak sentiments in the domestic markets after rating agency Standard & Poor's (S&P) lower the country’s outlook to negative from stable due to slow growth on its fiscal condition and weakening economic indicators. In addition to this, rising concerns over capital inflows in the country and month-end dollar demand from the oil importers also affected the currency.


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