Investors stare at double-digit losses as rupee eats into FPI pie

Indian indices better off in 2022, down less than 2 per cent

Despite the turmoil in the equity markets, domestic investors are staring at less than 2 per cent losses so far this year. The situation, however, is very different for a foreign investor, who has invested in the Indian markets during the start of the year.

Despite Indian equities faring better than peers, the decrease in the rupee against the US dollar has resulted in double-digit losses for foreign portfolio investors (FPIs). The Dollex 30, a gauge that shows dollar-denominated returns for the benchmark Sensex index, is down 10.7 per cent, after surging over 50 per cent in the previous three-year