Mumbai: Market experts said that the Indian rupee may slip down this week. The domestic currency hit a new all-time low against the US dollar last week. This is for 6th week in a row that the local currency is falling against the US currency.
As per market experts, the sharp surge in the sell-off in the speculative assets like cryptocurrencies and strengthening of the US dollar will influence the investors.
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Meanwhile, the Foreign Portfolio Investors (FPI) withdrew Rs 25,200 crore from the Indian equity markets the first fortnight of May. FPIs also withdrew Rs 4,342 crore from the debt market during the period under review. Thus, the FPI’s stake in Indian companies fell to 19.5%. This is the lowest since March 2019.
Foreign portfolio investors (FPIs) remained net sellers for seven months to April 2022. They had pulled out a massive amount of over Rs 1.65 lakh crore from equities. As per market experts, the rising crude oil prices and inflation, tight monetary policy influenced the investors. The foreign fund outflow may continue in the coming weeks also, said experts.
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