Rupee rises 47 paise on record FCNR inflows and RBI support
The Indian rupee strengthened by 47 paise on Thursday, driven by a surge in foreign-currency non-resident (FCNR) deposits that improved overall forex liquidity. The record inflows helped cushion the currency against prevailing global economic headwinds. The Reserve Bank of India also intervened in the market, further supporting the rupee's upward movement. Adding to the positive momentum, domestic equity markets opened on a strong note, reflecting broadly optimistic investor sentiment.
This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)
Log in to join the discussion and vote.
Log in