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Market move▼ Bearish for Indian equities
INR stays pressured as oil prices rebound amid the ongoing West Asia conflict
The brief
- The rupee fell 20 paise to 95.95 against the US dollar in early trade
- The dollar strengthened as oil prices rebounded amid the West Asia conflict
- A weaker rupee and dearer oil pressure Indian airlines, paint makers and other import-dependent businesses
- 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