Indian rupee closes at 90.65 per US dollar
The rupee closed at 90.65 per US dollar on Monday, up just a bit from last session.
Even with foreign investors pulling out over $800 million on Friday, balanced demand for dollars has kept the currency surprisingly stable.
A steady rupee makes life easier for businesses
A steady rupee makes life easier for anyone dealing with imports, exports, or investing in stocks—so it's good news for businesses and young investors alike.
Hopes around a US-India trade deal have also helped keep things calm.
Citi says worries about the rupee dropping have faded
Importer demand for dollars is getting matched by exporter sales and foreign inflows, keeping things level.
Plus, softer US inflation might mean a rate cut by the Federal Reserve soon—which could boost Indian stocks.
Citi says worries about the rupee dropping have faded, which is helping market mood right now.