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Market move▲ Bullish for Indian equities
INR holds above 96-mark amid pull back in oil prices
The brief
- The rupee gained 19 paise to close at 95.80 per US dollar on Friday
- Rupee strength can ease imported-cost pressure for Indian companies reliant on crude oil
- 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
- 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