The Indian rupee weakened to Rs.96.78 against the US dollar on Thursday, reflecting pressure from foreign portfolio outflows, elevated global bond yields and higher crude prices. The currency’s movement comes amid concerns that expensive energy imports could increase India’s import bill.
Foreign investors withdrew Rs.12,943.58 crore from Indian equities during Thursday’s session, marking their largest single-day outflow since May 29, 2026, according to market data reported by Reuters. Domestic institutional investors bought shares worth Rs.10,703 crore, partly offsetting the selling pressure.
Currency traders will continue watching crude prices, overseas interest-rate expectations and foreign investment flows for direction. A weaker rupee can raise the cost of imported commodities and overseas payments, although it may benefit some exporters by increasing the rupee value of foreign-currency earnings.
Leave A Comment