INSUBCONTINENT EXCLUSIVE:
INR vs USD: Weakness in the equity markets added to pressures on the rupee against the dollar
The rupee weakened by 29 paise to finish at 68.13 against the US dollar on Monday
Demand for the greenback from importers and banks put pressure on the rupee
investments - a move which could have great long-term consequences on the economic ties between the two largest economies in the
The rupee opened at 68.00 against the US dollar, and traded in the range of 67.90-68.17 during the session before settling at 68.13.2
Countries agreed to raise production levels in the much-awaited outcome of a key meeting of top producers.3
"Markets corrected on Monday after witnessing a rally last Friday
The weakness came on the back of weak global cues as trade tensions continued between US and China," news agency IANS cited Deepak Jasani,
head of retail research at HDFC Securities, as saying.5
The selloffs in domestic equities alongside heavy capital outflows further dampened traders' confidence
The simmering trade dispute between the US and its major trading partners remains a critical issue for global markets.6
The rupee is down more than 1 per cent so far this month
withdrawal by foreign portfolio investors (FPIs) from the capital markets (both equity and debt) to more than Rs 46,600 crore so far this
as investors prepared for an extra 1 million barrels per day (bpd) in output to hit the markets after OPEC and its partners agreed to raise
production that was agreed in Vienna on Friday
Brent crude futures, the international benchmark for crude oil, was quoting around $74.56 a barrel on Monday.10
