💨 Abstract

The Indian rupee fell by 16 paise against the US dollar on Wednesday, ending a three-day winning streak. This was due to a strong American currency and continuous outflow of foreign funds. The rupee opened strong but lost ground due to volatile domestic equity markets. Traders anticipate the rupee to trade negatively due to weakness in domestic equities and persistent foreign institutional investor outflows.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖