Indian Rupee fell against US Dollar due to oil prices, but domestic equity markets and foreign fund inflows helped stabilize.

The Indian Rupee fell 3 paise to 83.88 against the US Dollar, influenced by fluctuating crude oil prices and volatility in international dollar trade. Despite this decline, positive domestic equity markets and foreign fund inflows helped stabilize the currency. The Sensex and Nifty reached new record highs, while crude oil prices decreased to $76.26 per barrel. Additionally, India's foreign exchange reserves rose to a record $681.688 billion.

September 02, 2024
27 Articles