Indian Rupee slipped in early moves today and traded down around 20 paise down on January following a modet spurt in the US dollar index. The local currency quotes at 86.55 per US dollar as a drop extended following rebound from record lows last week. Yesterday, On January 27, the Reserve Bank of India (RBI) announced a slew of liquidity measures, which includes conduct of USD/INR Buy/Sell Swap auction of $5 billion for a tenor of six months. It didn't impact the currency markets immediately but is likely to help in stabilization over coming weeks.