Commodities & currencyEconomic Times
Rupee touches strongest since April as foreign inflows offset firm dollar
Negative-1
GreyOak summary
The Indian rupee strengthened to 93.69 per dollar, its highest level since April, driven by foreign portfolio inflows of nearly $6 billion in November. This momentum offset pressure from a stronger US dollar fueled by hot inflation data and hawkish Federal Reserve comments. Traders now anticipate a 25-basis-point Fed rate hike in December, while attention shifts to India's October inflation data expected on Thursday.
What it affects
- USD/INRNegative -1
Rupee strengthened to 93.69 against the dollar.Rolling sentiment Positive +33
- FII flowsPositive +1
Foreign inflows reached nearly $6 billion in November.Rolling sentiment Neutral +12
