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In January so far, foreign investors have withdrawn Rs 22,194 crore from Indian equities.
In January so far, foreign investors have withdrawn Rs 22,194 crore from Indian equities.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.
Subdued sentiments in domestic equity markets also influenced the trading pattern in the currency market, forex traders said. However, a weak dollar against major currencies overseas restricted the rupee's fall, they added.
Forex dealers said the selling of the American currency by exporters and gain in other Asian currencies also supported the rupee.
The rupee had settled at 69.65 against the US dollar Monday.
Forex traders said investors welcomed the RBI policy decision as this would help to boost the slowing economy.
On Thursday, the rupee had settled at 69.87 against the US dollar.
