Foreign investors withdrew over Rs 22,000 crore from Indian equities
In January so far, foreign investors have withdrawn Rs 22,194 crore from Indian equities.
In January so far, foreign investors have withdrawn Rs 22,194 crore from Indian equities.
Notably, the rupee dropped to 85.0650 against the US dollar in early trade, compared to 84.9525 on Wednesday.
The African Development Bank (AfDB) released about 511 million US dollars to finance four government programmes in Niger, an AfDB official said Sunday.
The Indian rupee’s stability, despite external pressures from weak Asian currencies and rising US bond yields, highlights a nuanced approach by the Reserve Bank of India (RBI) in managing the currency.
The Indian rupee’s slide to a record low against the US dollar underscores the complex interplay of domestic and global economic factors that influence currency valuation.
At the interbank forex market, it witnessed an intra-day high of 74.68 during the session and a low of 74.90 against the US dollar.
Forex traders said positive domestic equities, foreign fund inflows and hopes of a COVID-19 vaccine supported the rupee.
During the session, the rupee witnessed an intra-day high of 74.98 and a low of 75.25 against the US dollar.
It opened lower at 75.23 per dollar against previous close of 75.14 and traded in the range of 75.15-75.29.
It had settled at 74.93 against the US dollar on Tuesday.
