The Indian rupee weakened by 4 paise to 93.73 against the US dollar on November 12, despite strong foreign fund inflows into domestic equities. The decline was mainly driven by a stronger US dollar and rising expectations of higher US interest rates.
Foreign investors purchased around $1.34 billion worth of Indian equities on Wednesday, taking November's total inflows to nearly $8 billion. However, the US Dollar Index gained 0.63% to reach 102.85, its highest level since October 14.
Meanwhile, Brent crude traded near $92.21 per barrel, adding pressure on the Indian currency. Higher crude oil prices increase India's import costs and demand for dollars.
Investors are also keeping an eye on India's October inflation data for further economic signals.
Key Points:
- Rupee weakened to ₹93.73 against the dollar.
- Foreign investors bought $1.34 billion in Indian equities.
- US Dollar Index rose 0.63% to 102.85.
- Brent crude traded near $92.21 per barrel.
Despite strong foreign inflows, the rupee remains under pressure from a stronger dollar and elevated crude oil prices. Global interest rates and FII activity will remain key factors for its movement.
Indian rupee 12 November ko US dollar ke against 4 paise weak hokar 93.73 par aa gaya, despite strong foreign fund inflows into Indian equities. Is decline ki main wajah US dollar ki strength aur higher US interest rates ki expectations rahi.
Foreign investors ne Wednesday ko Indian equities mein around $1.34 billion invest kiye, jisse November ke total inflows nearly $8 billion ho gaye. In strong inflows se rupee ko support mil raha hai, lekin currency par pressure bana hua hai.
US Dollar Index 0.63% gain karke 102.85 par pahunch gaya, jo October 14 ke baad iska highest level hai. Meanwhile, Brent crude around $92.21 per barrel trade kar raha tha.
Higher crude prices India ka import bill increase karte hain aur dollar ki demand badhate hain.
Key Points:
- Rupee 93.73 per dollar par weak hua.
- FIIs ne $1.34 billion invest kiye.
- Dollar Index 0.63% up hokar 102.85 par pahucha.
- Brent crude $92.21 per barrel ke paas raha.
Strong foreign inflows ke despite stronger dollar aur high crude prices rupee par pressure bana rahe hain. Aage currency movement global interest rates, crude prices aur FII flows par depend karegi.