Rupee’s Six-Day Rally Could Give Indian Crypto Buyers a Hidden Advantage
- The rupee closed at 95.35 against the dollar on Friday, its sixth straight gain.
- FPIs bought Rs 7,360 crore worth of Indian stocks over just the past three days.
- Indians are reportedly paying an 8.5% premium on USDT versus official rates now.
The Indian rupee strengthened for a sixth consecutive session on Friday, closing at ₹95.35 against the US dollar, up 15 paise from Thursday’s ₹95.50 close, itself a 26 paise gain marking the fifth straight session of gains.
Why the Rupee Keeps Rising
Sustained RBI dollar selling combined with a shift in foreign portfolio investor behavior is reportedly driving the rally. FPIs bought ₹7,360 crore worth of Indian equities over the past three days, reversing a period of heavy selling.
Analysts expect the rupee to trade between ₹95 and ₹95.60 near term, supported by a softer dollar and dovish Fed expectations. But…
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