India’s weightage in the MSCI Global Standard Index is set to increase, potentially attracting nearly $3 billion into the Indian market by the end of the month, said Amit Pabari, managing director at CR Forex Advisors. “This influx of capital could provide much-needed support for the rupee.”
“All eyes are on the upcoming Personal Consumption Expenditures data release this week. A weaker-than-expected result could weigh on the dollar index, potentially offering some relief to the rupee. Conversely, a stronger outcome might give the dollar the boost it needs, adding pressure on the rupee,” he said.
International benchmark Brent oil was at $79.74, down 0.76%, at 3:42 p.m. IST. It was initially at $81.22, down 0.26% following Monday’s rise as the eastern Libyan government announced that it will halt exports.
