The currency saw some relief after hovering close to the 84 mark for much of the week
The currency saw some relief after hovering close to the 84 mark for much of the week
The higher weightage for Indian equities, effective on Friday, is expected to draw up to $3 billion of inflows
The Reserve Bank of India has routinely intervened this month to ensure that the rupee doesn't fall below the 84 handle
It is likely to trade with a positive bias on the day but expect gains to be limited near 83.80 (Dh22.83), according to a foreign exchange research analyst
The currency rose to 83.85 (Dh22.84) in early trading, its highest level since August 6
The selloff in US and Asian equities following a disappointing jobs report spurred worries of foreign outflows from India and other emerging markets
The rupee was at 83.72 against the US dollar as of 10.35am IST, nearly unchanged from its close at 83.71 on Thursday
Government's decision to hike the tax rate on capital gains dampened market sentiment
While most Asian currencies rose by 0.1% to 0.2%, the rupee was unable to gain due to heightened demand for dollars
With more than 230,000 Pakistanis migrating to the UAE in 2023 in search of greener pastures, remittances are expected to increase in the coming years