Sumary of Rupee falls for fifth day against US dollar, drops close 75 levels:
- At day’s low rupee fell to 74.97 before pulling back to 74.72, according to Bloomberg data, tracking weakness in other Asian currencies and a lackluster domestic equity market..
- Foreign institutional investors were net buyers in the capital market and purchased shares worth 110.85 crore on Thursday, according to exchange data..
- The rupee has fallen sharply after the RBI on Wednesday commitment to a huge government bond purchases programme what raised prospects of plenty of rupee liquidity, and potential inflation, both of which undermined sentiment toward the currency..
- “The rupee traded on a weaker note majorly on account of 1.00 lac cr of bond-buying announced by RBI, unwinding of carry trades, perception of full lockdown due to rising cases, and panic buying by importers…