Rupee remains weak despite falling oil prices
after close1 source ↓written by the desknot a recommendation
- despite Brent crude
- 93.9
- below $100
- 6%
- daily and upcoming
- $1 billion
India’s rupee struggles as USD/INR stays near 93.9 despite Brent crude dropping 6% below $100. The rupee is pressured by steady equity outflows of $1 billion daily and upcoming NDF maturities. Traders are cautious as fundamentals take a backseat to dollar demand, limiting the usual benefits from cheaper oil.
Not investment advice. For informational purposes only.