Indian rupee ends 3-day slide at ₹96.73 per dollar
The Indian rupee finally broke its losing streak on Friday, ending the day at ₹96.73 against the US dollar, up by 5 paise.
This small win comes after three days of declines and was helped along by cheaper crude oil prices and a slightly weaker US dollar.
Indian markets rally, foreign investors sell
A mix of things: global markets felt more upbeat, Asian currencies got stronger, and the Reserve Bank of India may have stepped in to help.
Cheaper oil (Brent fell to $102.95 a barrel) means lower import costs for India, while a dip in the US dollar index also gave the rupee a boost.
On top of that, Indian stock markets had a strong day (Sensex jumped 879.09 points and Nifty rose by 288.65 points) but foreign investors still played it safe, selling off a net ₹12,943.58 crore worth of shares on Thursday despite all this positive action.