Rupee falls to ₹95.64 per dollar amid Indian stock outflows
Business
The Indian rupee dropped to 95.64 against the US dollar on Thursday, losing 12 paise from yesterday.
This fall was mainly because investors are pulling money out of Indian stocks and ongoing geopolitical tensions in West Asia are making things uncertain.
Foreign investors sold over ₹5,600cr
Indian stock markets felt the pressure too: Sensex fell by 229 points and Nifty dropped by 66 points.
Oil prices remain high despite a slight dip, and foreign investors sold over ₹5,600 crore worth of equities in just one day.
Everyone's now waiting for the Reserve Bank of India's policy update on June 5 to see what happens next with the economy and currency.