INR opens 96.12 vs USD despite oil gains, ₹739cr exit
Business
The Indian rupee opened a little stronger on Wednesday at 96.12 against the US dollar, after closing at 96.16 on Tuesday, its lowest level since May.
This small comeback happened even as global oil prices kept climbing and foreign investors pulled out over ₹739 crore from Indian stocks.
Brent $85.66, markets rebound, WPI spikes
Tensions in West Asia pushed Brent crude oil up to $85.66 per barrel, putting extra pressure on the rupee.
Still, Indian stock markets managed a solid rebound: Sensex jumped 553 points and Nifty rose by 148.15 points on Wednesday.
Meanwhile, wholesale inflation spiked to 9.87% in June due to pricier food and goods, but tax collections are up too, showing both challenges and resilience in India's economy right now.