USD/INR closed at 68.8250 against its open at 68.83. The US Consumer Price Index  rose 0.2 percent, the bulk of which was due to a rise in the cost of shelter. The annual increase in the so-called core CPI was 2.4 percent, the largest rise since September 2008, from 2.3 percent in June.

These days geopolitical concerns are driving markets, rather than actual fundamentals. Overnight, dollar saw rally against euro and other currencies like Turkish lira and Russian rubble. Market went into safe mode as US imposed sanctions on Russia over their alleged attack on a spy in UK

The greenback rose against other major currencies on geopolitical tensions between US and China escalated amid concerns UK may exit EU leading to fall in both euro and pounds.
Oil prices remained steady after falling on hopes that crude would be drawn into the US China trade dispute as Chinese import data showed a slowdown in energy demand.
WTI traded 0.01% higher at $66.82/barrel while Brent traded 0.07% up at $72.12/barrel.
Local stocks opened down tracking subdued global cues,
Also, trade concerns have been in the spotlight, with China announcing earlier this week that it would retaliate against recent US tariffs.
The Chinese Ministry of Commerce announced Wednesday a 25% tariff on $16 billion in US goods, a move that came after the US Trade Representative's office said duties on $16 billion in Chinese imports would take effect on Aug 23.
Sensex provisionally ends 155 points lower with 19 components in the red.