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Market move▼ Bearish for Indian equities
Rupee weakens to around 95.96–95.99 per dollar as crude rises
The brief
- The rupee fell 23 paise to 95.96 against the dollar, while another report said it dropped 26 paise to 95.99
- A separate report said the rupee opened 6 paise higher at 95.90 as oil cooled overnight
- A weaker rupee and higher crude pressure import costs for Indian oil companies and raise inflation risks
- 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
- FII Flows To Stay Subdued: Bernstein sees flat to modest inflows; rupee and valuations weigh
- RBI says resilient domestic economy cushions India against rising global risks
- Forex reserves drop $14.9 billion to $766 billion, sharpest weekly fall since November 2024