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Market move▼ Bearish for Indian equities
Rupee faces pressure as Iran talks stall; RBI intervention seen as a buffer
The brief
- The rupee settled at 95.8125 to the dollar on Friday
- The rupee is expected to open slightly weaker, with RBI intervention described as a reliable buffer
- A weaker rupee may benefit IT exporters but raise costs for Indian oil importers
- 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