The rupee fell 2 paise to an all-time low of 84.13 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and a muted trend in domestic equities dented investor sentiments. Forex traders said all eyes are on the US as it decides its next President. Markets are bracing for potential volatility over the coming days, especially with the Federal Reserve's monetary policy announcement also scheduled this week. At the interbank foreign exchange, the rupee opened at 84.13 against the greenback, registering a fall of 2 paise over its previous close. On Monday, the rupee fell 4 paise to settle at a record low level of 84.11 against the US dollar. The rupee closed at an all-time low on Monday and opened at a new low of 84.13 as US elections rattled stock markets amid persistent foreign fund outflows, said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. "The Reserve Bank of India (RBI) was present to absorb the fall
The ace fund manager was reacting on 'X' to a Business Standard story that quotes a Reserve Bank of India (RBI) data on gross FDI flows into the country in FY24
Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees
FDI into India is expected to receive a boost from the Trade and Economic Partnership Agreement (TEPA) signed with the European Free Trade Association (EFTA) on 10 March 2024
In May 2017, India Inc's foreign direct investment stood at $ 3.12 billion
FDI outflows to Mauritius and Singapore have gained momentum in the last one year