Forex Market News

The Indian Rupee Appreciated By 0.43 Percent

The Indian Rupee appreciated by 0.43 percent yesterday owing to sustained selling of the American currency by exporters and banks amid lower DX in the overseas markets. Moreover, markets discount the statement made by India’s Finance Minister who underlined the need to have globally compatible tax rates to broad-base the economy.
This boosted the market confidence and dragged the Indian Rupee higher. Domestic markets i.e. Sensex and Nifty ended on a lower note as investors book profits ahead of the monthly futures and options (F&O) contract expiry amid a mixed trend overseas.
traded higher after the finance minister of India For the month of December 2016, FII outflows in equities totaled at Rs. 5204.92 crores ($765.67 million) as on 26th Dec’16. Year to date basis, net capital inflows in equities stood at Rs. 23537.55 crores ($3606.14 million) as on 26th Dec’16.
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