These flows came at a time when the rupee was plunging to record lows. Thus, they provided cushion to the sliding rupee against the US dollar, slowing the pace of the rupee’s decline. The sum is about half of total overseas funds raised in this financial year via this route.
Oil climbs following renewed US, Iran strikes in Middle East
Oil prices saw an uptick as renewed US-Iran tensions in the Middle East disrupted shipping through the Strait of Hormuz. Despite reports of a potential