Rupee drops to 93.32 as dollar strengthens, RBI eases rules
Business
The rupee dropped to 93.32 against the US dollar on Tuesday, mainly because the US dollar keeps getting stronger.
The Reserve Bank of India just relaxed some trading rules for banks, but ongoing uncertainty over a West Asia peace deal is making investors a bit cautious, even though Indian stock markets and foreign investments are looking healthy.
Sensex-Nifty rise, FIIs ₹2,066 cr
Despite global tensions and worries about oil prices from the Persian Gulf, Sensex jumped 379 points and Nifty added 104 points, showing solid growth.
Foreign Institutional Investors pumped in ₹2,066 crore into Indian stocks on Monday, signaling they still see India as a good bet right now.