💨 Abstract

The Indian rupee dropped 4 paise to 86.72 against the US dollar on Monday due to massive foreign capital outflows and FII sell-off in secondary markets. The domestic equity markets also fell by over 1%. However, a flat dollar against major currencies prevented a sharper fall. Market participants will monitor global risk sentiment and FII flows for further direction. The RBI's forex reserves decreased by $2.54

Courtesy: theprint.in

Summarized by Einstein Beta 🤖