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FPIs continue to exit Indian debt for 4th month
Foreign Portfolio Investors (FPIs) have been taking their money out of Indian debt for the fourth month in a row as of July 2023, selling off ₹455 crore.
This steady exit is mostly thanks to pressure on the rupee after new US tariffs and uncertainty about what India's central bank will do next with interest rates.
FPIs have sold a total of ₹23,435 crore in FY26
FPIs have sold a total of ₹23,435 crore in FY26 so far.
There was a brief pause when inflation cooled off in mid-July, but hopes for another RBI rate cut quickly faded.
RBI Governor Sanjay Malhotra recently said future decisions will focus more on long-term inflation and growth than short-term trends—so investors are staying cautious.