Finance
DoggfatherRupee Slips Below 90 as Corporate Dollar Demand Rises, Fo’ Shizzle
Yo, the rupee took a lil' tumble on Friday, droppin' below 90 against that dollar, all 'cause them corporates be chasin' that green. Settled at 90.21, slippin' from 89.97, while the RBI struggled to keep it cool with FPI outflows. But hold up, India's forex reserves got a sweet boost of $3.2 billion, now cruisin' at $696.6 billion, keepin' it fly, fo' shizzle.
few days ago | Anjali Kumari
Quick rundown
1.The rupee dipped below 90 against the dollar due to strong corporate demand.
2.US holiday kept trading volumes low, reducing market volatility.
3.RBI's short dollar positions reached $66 billion by November's end.
4.India's forex reserves rose by $3.2 billion, driven by gold reserves.
5.Liquidity is expected to remain positive due to government spending and RBI operations.
