Archive · Business Recorder
Revival in foreign flows to back Indian rupee, dollar strength offers resistance
MUMBAI: The Indian rupee is set to open largely flat on Thursday, with the ongoing revival in foreign equity inflows providing a counterweight to a resurgent dollar that has advanced to a one-month high. The Indian rupee is expected to open in the 93.68 to 93.74 range, having settled at 93.69 to the dollar on Wednesday, its highest level since April. Foreign investors poured $1.34 billion into Indian equities on Wednesday, per provisional data, taking month-to-date inflows to just shy of the $8 billion mark. The scale of the reversal in foreign flows has been striking. Fears of tighter U...
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