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The Indian Rupee fell 31 paise to 96.25 against the US dollar, its lowest in over two months, driven by global risk aversion, rising bond yields, and FII selling.
On Thursday, the Indian rupee declined to a two-month low against the US dollar due to foreign portfolio outflows. Overseas investors sold off investments amid rising US bond yields and dollar demand. The rupee surpassed the 96-level twice in three days, indicating intense market pressure. Custodian banks continued…
The rupee fell 37 paise to close at 96.31 against the US dollar on Thursday, its lowest level in more than two months. Rising global bond yields, risk aversion, foreign investor selling and higher crude prices weighed on the currency