Rupee declines as geopolitical tensions elevate dollar demand
after close1 source ↓written by the desknot a recommendation
- as safe-haven demand
- ₹95.40
- a peak
- $728.5 billion
- in March
- $19 billion
The USD/INR pair rose for the third consecutive session, trading near ₹95.40 as safe-haven demand for the US Dollar increased amid geopolitical tensions following Iran's attack on the UAE. India's foreign exchange reserves fell from a peak of $728.5 billion, with equity outflows reaching $19 billion in March and April. Market participants await the HSBC Composite and Services PMI data due Wednesday.
Not investment advice. For informational purposes only.