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The rupee weakened toward a record low on Friday as US Treasury yields rose, month-end dollar demand from importers increased, and foreign investors sold Indian equities. Foreign investors withdrew about $1.4 billion from Indian equities on Thursday, and India's Q2 GDP and fiscal deficit data were due later that day.
Persistent outflows and dollar demand push up the cost of imported goods priced in dollars. A weak GDP print could add to pressure, while a strong one could limit the rupee's losses.
fxstreet.comLallalit SrijandornNov 29, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
