Heightened tensions in West Asia, FII outflows and sustained negative sentiments at the domestic equity markets maintain pressure on INR
Mumbai, July 24 -- The Indian rupee continued to stay pressured around record low levels but witnessed some pullback on possible intervention by RBI to stabilize sharp volatility in the counter. INR opened at Rs 96.81 per dollar but recovered by 18 paise to close at 96.55 (provisional) against the US dollar on Friday. A combination of factors, including heightened tensions in West Asia, FII outflows, and sustained negative sentiments at the domestic equity markets, maintained pressure on the local unit. The S&P/BSE Sensex dropped 0.4% to 76,060 and the NSE Nifty 50 dropped 0.4% to 23,770, both at their lowest in over one month. The US launched a 13th straight day of strikes on Iran, with both sides ruling out near-term talks. President Tr...
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