Indian rupee to draw support from return of foreign flows amid tech meltdown

Business Recorder reported that the Indian rupee gained 0.5% during the week, reaching 94.32 on Thursday before closing at 94.4750. The currency was expected to begin Friday’s trading close to its previous level, with a modest upward tilt, as overseas investors returned to Indian shares.

Foreign investors purchased a net $1.6 billion in Indian equities on Thursday, their largest one-day net buying in almost six years, following around $2.2 billion of net purchases in the prior four sessions. The report linked the shift partly to a retreat from technology stocks tied to artificial intelligence, while lower oil prices also eased pressure on the rupee. Whether these inflows persist, alongside oil-market trends, remains important to the currency’s direction, traders said.