From Brecorder · Reuters · · 50s
Foreign flows boost Indian rupee
Foreign equity inflows lift Indian rupee as dollar strength offers resistance.
In brief
Foreign equity inflows lift Indian rupee as dollar strength offers resistance. Foreign investors poured $1.34 billion into Indian equities on Wednesday, helping the rupee reach its strongest level since April. Originally reported by Brecorder.
Rupee expected to open flat
The Indian rupee is set to open largely flat on Thursday, with foreign equity inflows providing counterweight to a resurgent dollar.
Foreign equity inflows surge
Foreign investors poured $1.34 billion into Indian equities on Wednesday, taking month-to-date inflows to just shy of $8 billion.
Dollar index near one-month high
The dollar index held near a one-month high against major peers, supported by expectations of a Federal Reserve rate hike.
Rupee's narrative shifts
The rupee's narrative has shifted decisively, with focus turning to how durable the turnaround in sentiment and foreign inflows will prove.
“The rupee’s narrative has shifted "decisively"”
The headline
Foreign investors poured $1.34 billion into Indian equities on Wednesday, helping the rupee reach its strongest level since April.
