Rupee ends flat at 94.90 despite fall in oil prices
The Indian rupee closed at 94.90, witnessing a range from 95.03 to 94.69. Market participants remained on edge with the US midterm elections looming, impacting overall sentiment. Despite falling oil prices and a weaker dollar, there was an uptick in dollar demand. Notably, Foreign Portfolio Investors turned net buyers, purchasing ₹3,114 crore, lending slight support to the rupee.
Key Takeaways
- The Indian rupee closed at 94.90, witnessing a range from 95.03 to 94.69.
- Market participants remained on edge with the US midterm elections looming, impacting overall sentiment.
- Despite falling oil prices and a weaker dollar, there was an uptick in dollar demand.
The Indian rupee closed at 94.90, witnessing a range from 95.03 to 94.69. Market participants remained on edge with the US midterm elections looming, impacting overall sentiment. Despite falling oil prices and a weaker dollar, there was an uptick in dollar demand. Notably, Foreign Portfolio Investors turned net buyers, purchasing ₹3,114 crore, lending slight support to the rupee.
Original Publisher Attribution
This summary was curated from Economic Times.