Foreign portfolio outflows totaling $6.3 billion drive the USD/INR pair higher, reflecting significant downward pressure on the Indian Rupee in current trading sessions.
The USD/INR pair is experiencing upward pressure as the Indian Rupee weakens against the US Dollar, driven by significant capital flight. According to DBS Bank, foreign portfolio investors have withdrawn approximately $6.3 billion from onshore financial markets, pushing the exchange rate back above the 96.00 level.
The pair is trading back above 96.00, signaling strength in the USD and weakness in the INR.
Foreign portfolio investors have pulled out approximately $6.3 billion.
The Indian Rupee faces renewed selling pressure as foreign portfolio investors withdraw $6.3 billion from local markets. DBS Bank analysts highlight the shift in sentiment, pushing the USD/INR pair back above the 84.50 level amid broader global market volatility.
The pair is rising due to significant foreign portfolio outflows of $6.3 billion and broader pressure on onshore financial markets from global developments.