Overview

• The rupee settled at 86.16 per dollar, extending to a second straight daily loss and recording its lowest weekly finish in July.
• The Bloomberg Dollar Spot Index firmed on renewed expectations over the Federal Reserve’s rate-cut timeline.
• Foreign institutional investors offloaded equities worth about ₹3,694 crore, intensifying downward pressure on the currency.
• India’s Ministry of External Affairs confirmed that negotiators in Washington are actively working to iron out remaining issues in the proposed bilateral trade agreement.
• With foreign exchange reserves nearing $700 billion, the RBI retains ample firepower to intervene and smooth extreme currency swings.