The Indian Rupee (INR) ticks lower at open against the US Dollar (USD) on Wednesday. The USD/INR pair edges up to near 89.35 as the Indian Rupee continues to underperform, with persistent US Dollar’s demand from Indian importers and in the offshore market.
Bankers said that dollar demand, largely from importers and in the offshore market, kicked in and blunted the rally, Reuters reported.
Another reason behind consistent weakness in the Indian Rupee is the continuous outflow of foreign funds from the Indian equity market. So far in November, Foreign Institutional Investors (FIIs) have been net sellers, and have pared stake worth Rs. 17,227.42 crores.
Meanwhile, the US Dollar has turned fragile amid accelerating bets supporting more interest rate cuts by the Federal Reserve (Fed) this year. So far in 2025, the Fed has reduced interest rates by 50 basis points (bps) to 3.50%-3.75%, and…
