Rupee slips 19 paise to 95.54 against US dollar
The rupee started Wednesday at 95.54 per US dollar, slipping 19 paise from yesterday.
The main reasons? Foreign investors have been pulling their money out of Indian markets, and importers are snapping up dollars, all while global market vibes stay cautious.
Even though the Reserve Bank of India tried to help by encouraging more foreign money in, those gains didn't last.
Over $6 billion leaves Indian equities
Over $6 billion has left Indian equities this month (more than last month), making the demand for dollars even higher.
Rising oil prices and ongoing sell-offs in stocks aren't helping either.
Plus, with Asian currencies also falling and Middle East tensions pushing oil up, the dollar just keeps getting stronger.
Markets await US inflation reading
Everyone's watching for US inflation data coming out later today: it could shape what the Federal Reserve does next and decide where emerging market currencies like the rupee head from here.