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Market move▼ Bearish for Indian equities
Rupee falls 22 paise as crude, dollar demand rise
The brief
- Rupee fell 22 paise to 95.96 per dollar
- Importer demand, crude prices and global bond yields pressured the currency
- A weaker rupee raises imported costs for Indian companies, especially oil, aviation and other import-heavy sectors
- 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