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Amid hefty FPI flows, rupee turns into outperformer among EM peers

Rupee performs better than 11 emerging market currencies amid jump in US dollar index

Photo: Brent Lewin/Bloomberg
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The rupee, which settled at 79.82 per dollar on Wednesday, has weakened 6.9 per cent against the dollar so far in 2022

Bhaskar Dutta Mumbai
Even as a sharp global strengthening of the US dollar this week impacted several emerging market currencies, the Indian rupee has taken a considerably milder hit, ranking as an outperformer amongst peers.

Currency traders and analysts cited a substantial increase in foreign portfolio investment and interventions by the Reserve Bank of India (RBI) as key factors have contributed to the rupee’s resilience.

Over the past three days of trade, the US dollar Index jumped to levels last seen in mid-July, with the gauge moving up from 107.87 at the end of the previous week to 108.69 at 3:30 pm on

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First Published: Aug 24 2022 | 9:16 PM IST

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