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Market move▼ Bearish for Indian equities
INR extends decline below the psychologically important 96 per dollar level
The brief
- Rupee fell below 96 per dollar in early trade
- A weaker rupee raises import costs for Indian companies reliant on overseas inputs
- India-UAE target $200bn bilateral trade by 2032; commit to local currencies, payments, digital initiatives — Check here
- Rupee-dirham trade gains ground as India and UAE target $200 billion
- India forex reserves surge to a record high in September and to provide cover for 11.2 months of goods imports, says RBI
- India's forex reserves fall $14.89 billion to $766 billion
- Rupee and government bonds face pressure as oil rises and Iran diplomacy hopes fade