The Reserve Bank of India has instructed banks to reduce their long positions on the USD/INR pair to curb speculation against the weakening rupee. This move comes amidst record lows for the rupee, fueled by factors like foreign investor selling and a strengthening dollar.
Sensex marginally lower in early trade, Nifty below 24,700; FMCG cos drag
The benchmark S&P BSE Sensex opened 47.34 points or 0.06% lower at 81,661.78, while the broader Nifty 50 index opened at 24,669.75, lower by 8.05
December 9, 2024