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Market move▼ Bearish for Indian equities
Rupee sinks to two-month low amid FPI selling and rising US yields
The brief
- Rupee fell to a two-month low against the US dollar on Thursday
- Foreign portfolio outflows and rising US yields pressured the currency
- A weaker rupee raises import costs for Indian companies reliant on overseas inputs
- US 10-year yield at 24-year high rattles Nifty, rupee and bond markets. Why is India hit hard?
- Another stock market crash: Nifty, Sensex tank - FII selling, high bond yields, among 5 reasons behind big plunge
- RBI forex swaps open lower-cost dollar funding route for Indian firms
- A weak rupee would push RBI to follow tightening path
- India RBI's FX forward book tipped to shrink after touching $200 billion