Rupee continued its downward trajectory on Wednesday, slipping 23 paise to hit a new low of 85.63 against the US dollar in early trade. The slide was largely driven by a stronger greenback and rising crude oil prices, coupled with increased month-end dollar demand from exporters and banks. At the interbank foreign exchange market, the…
China shrank its holdings of US Treasuries in March, with the UK replacing it as the No. 2 overseas owner. The month, which preceded the April turmoil in the Treasuries market, saw a second straight jump in foreign purchases, to a fresh record high. Total overseas holdings rose $233.1 billion, to $9.05 trillion, Treasury Department…
Rupee gained 1 paisa to settle at 85.53 (provisional) against the US dollar on Friday, helped by strong foreign institutional investor (FII) inflows and a slight drop in the dollar index. However, the rupee’s rise was limited due to higher Brent crude prices, weak domestic equity markets, and data showing India’s trade deficit widening in…