Indian rupee snaps rising streak on hawkish Fed, oil rise

MUMBAI: The Indian rupee weakened this week as rising oil prices and growing expectations of a more hawkish Federal Reserve offset support from improving foreign portfolio inflows, stalling the currency’s recovery. The Indian rupee closed at 94.24, down 0.2% from its previous close and 0.3% week-on-week. A pickup in foreign portfolio flows helped lift the currency to an over six-month high…

First reported by Business Recorder 3 hr ago1 source

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Business Recorder10:533 hr ago
Indian rupee snaps rising streak on hawkish Fed, oil rise (opens Business Recorder in a new tab)
MUMBAI: The Indian rupee weakened this week as rising oil prices and growing expectations of a more hawkish Federal Reserve offset support from improving foreign portfolio inflows, stalling the currency’s recovery. The Indian rupee closed at 94.24, down 0.2%…

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