Indian Rupee Hits All-Time Low

The India===Indian rupee settled near its all-time closing low at 91.96/91.99 against the United States===United States dollar, also hitting an intra-day low of 92. This depreciation is primarily driven by selling pressure from foreign funds, a general risk-off sentiment in global markets, geopolitical uncertainty, and a surge in Brent Crude oil prices. India's Finance Minister, Nirmala Sitharaman, tabled the Economic Survey, which acknowledged risks from the external sector and foreign outflows. Despite the India===Indian rupee's weakness, the Economic Survey suggests that its value does not accurately reflect India's strong economic fundamentals, including stable growth and manageable inflation. Experts like Akshat Garg of Choice Wealth and Anuj Choudhary of Mirae Asset Sharekhan attribute the stress on the India===Indian rupee to persistent United States===United States dollar strength, elevated US bond yields, and continued foreign portfolio outflows. The India===Reserve Bank of India is noted to have the capacity to manage volatility but is unlikely to aggressively defend specific levels. Domestic equity markets, represented by the S&P BSE Sensex and NIFTY 50, showed positive movement, providing some cushion.