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Indian Rupee: Rupee finds support from oil relief and equity inflows – MUFG
USD/INR has fallen to its lowest level since April, with the Indian Rupee a key beneficiary of cheaper Oil and renewed foreign equity inflows, according to MUFG’s Lloyd Chan. Better terms of trade and easing pressure on the import bill and corporate margins are lending support. India’s equity market is also drawing sizeable foreign capital relative to other Asian markets.
Rupee strengthens as Oil falls and foreign inflows return
"INR has emerged as a key beneficiary of the recent combination of lower oil prices and returning foreign equity inflows, with USD/INR falling below 94.00 to its lowest since April."
"Lower crude improves India’s terms of trade and eases pressure on the import bill and corporate margins."
"Meanwhile, foreign investors bought a net $5.2bn of Indian equities last week, with inflows accelerating towards the end of the week. This contrast with net foreign equity selling in South Korea and Taiwan."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Find out more.)
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