Rupee slips for 6th day, closes at 86.41 per dollar
The rupee slipped for the sixth day straight on Wednesday, closing at 86.41 per US dollar.
Even though oil prices dropped and Indian stocks rallied after a US-Japan trade deal, a strong dollar and money flowing out of India kept the pressure on.
Sensex and Nifty both climbed yesterday
Big investors pulled out over ₹3,500 crore from Indian markets just yesterday, signaling some nerves about India's outlook.
Still, the Sensex and Nifty both climbed—so there's clearly some optimism left among local investors.
All eyes on upcoming India-US trade talks on August 1
A stronger US dollar (thanks to stubborn inflation in America) made things tougher for the rupee.
Slightly cheaper oil helped cushion losses a bit, but all eyes are now on upcoming India-US trade talks on August 1—which could mean more ups and downs for exporters and anyone watching currency rates.