India’s foreign exchange reserves fell by $276 million to $699.96 billion, despite rising gold reserves. The rupee showed slight strength supported by falling crude prices and strong stock markets, while foreign investors boosted market sentiment.
The rupee fell 11 paise amid a strong US dollar, rising Brent crude prices ($69.53/barrel), and foreign fund outflows. ECB’s unchanged rates and US economic resilience added pressure. Experts warn of further volatility.
The Indian rupee declined by 10 paise on Thursday, closing at 85.48 against the US dollar, pressured by a robust dollar index and surging crude oil prices. Read more on Dynamite News
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