As a result of foreign investor withdrawals from Indian stocks and worries about the effects of Trump’s presidential triumph, the Indian rupee fell to a new low vs the US dollar. India’s foreign exchange reserves decreased as a result of the Reserve Bank of India’s market intervention to maintain the rupee.
Unless the dollar index weakens or FII (foreign institutional investor) inflows reduce, the rupee is likely to continue to be under pressure.
In early trading, the rupee fell to 84.3875, surpassing its previous all-time low of 84.38 that was reached on Friday. The exchange rate was 84.37 at 09:40 a.m. IST.
FII buying and selling data today
According to the FII buying and selling data today In addition to the $11 billion that was taken out of Indian stocks in October, foreign investors have taken out a net of roughly $2.5 billion from Indian stocks so far in November. Following their fifth weekly decline in the previous six weeks, the benchmark Indian equity indices, the BSE Sensex and the Nifty 50, saw a small decline on Monday.
