Rupee

Sensex, Nifty end week in red as FII outflows continue; rupee hits record low

Indian stock markets closed lower on Friday, capping a week marked by sustained selling from foreign institutional investors (FIIs). The BSE Sensex declined by 55.47 points (0.07%) to settle at 79,486.322, while the Nifty 50 declined 51.15 points (0.21%), closing at 24,148.20. Among the sectoral indices, Public Sector Undertaking (PSU) Banks, Media, Realty, and Oil & Gas emerged as the biggest losers, according to NSE data. FII outflows continued to impact the markets, as foreign investors...

September 16, 2024 4:03 PM

India’s economic stride strengthening rupee’s internationalisation in new global landscape

As the global economic landscape undergoes significant transformations, India's rupee is steadily gaining international prominence. This shift comes amid growing efforts to reduce the dominance of the US dollar in global finance, particularly among BRICS nations. The rise of the rupee on the international stage is evident in recent developments. Commerce Secretary Sunil Barthwal revealed on Wednesday that rupee-rouble trade has seen a substantial increase, with 53 accounts now open for such tra...