Rupee ends week at 95.8750 as RBI steps in
The rupee wrapped up Friday at 95.8750 against the US dollar, slipping 0.3% over the week.
This dip mostly comes from worries about rising global interest rates and ongoing tensions in the Middle East.
Still, the Reserve Bank of India stepped in to keep things from getting worse as the rupee hovered near that key 96 mark.
Investors back India despite rate hikes
Recent rate hikes by big players like the US Federal Reserve and the Bank of Japan have made things tough for emerging market currencies everywhere, not just India's.
Despite this, India's Nifty 50 index managed a small gain, showing some market confidence.
Plus, investors are still keen on Indian assets: the National Stock Exchange's $2.3 billion IPO was fully subscribed, hinting at strong faith in Indian equities even with all the currency ups and downs.