Saturday, 23 October, 2021

Rupee gains on dollars inflows; traders await auction outcome

MUMBAI: The Indian rupee strengthened on Thursday, supported by dollar inflows into the domestic stock market which was hovering near record highs even as the outcome of the U.S. Federal Reserve’s policy meeting was a tad more hawkish than markets had hoped.

Foreign investors have bought a net $1.59 billion worth of shares in September, taking total purchases so far in 2021 to $8.98 billion. They are also net buyers of $1.19 billion in debt so far this month but remain net sellers $1.73 billion in 2021.