Rupee bounces back a bit, ends at 87.53 per US dollar
The rupee bounced back a bit on Friday, ending at 87.53 per US dollar after hitting a low earlier in the week.
This small win came thanks to lower oil prices and what looks like some RBI support, even as worries linger over new US tariffs on Indian exports starting August 7.
Foreign investors dumped over ₹5,500 crore in Indian stocks
Global money is jittery—foreign investors dumped over ₹5,500 crore in Indian stocks, dragging Sensex down by nearly 600 points and Nifty by over 200.
All this selling pressure makes the rupee's recovery feel pretty fragile.
Stronger US economic data has kept the dollar firm worldwide
Stronger US economic data has kept the dollar firm worldwide, but cheaper Brent crude gave the rupee some breathing room.
India's manufacturing sector is looking strong with PMI at a 16-month high, but budget stress and trade tensions mean more currency ups and downs ahead.