The Indian rupee faced a depreciation of 35 paise, ending at 83.06 against the US dollar, driven by foreign fund outflows from the Indian equity market. This decline reflects concerns about global economic uncertainties and volatility. Foreign investors have been withdrawing funds from Indian equities, impacting the rupee’s value. The currency’s fall underscores the importance of external factors on India’s financial markets and highlights the need for robust economic strategies to manage such fluctuations. This development may also affect India’s trade balance and overall economic stability, prompting policymakers to monitor the situation closely.
Rupee Slides by 35 Paise to Close at 83.06 Amid Foreign Fund Withdrawals from Domestic Equity Market
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