The Indian rupee closed higher on Wednesday, aided by likely inflows and lower U.S. bond yields, while state-run banks dollar appetite constrained the local currency s gains after it touched the strongest level in nearly three weeks.
Foreign institutional investors base their decisions on factors like benchmark composition, market ownership, growth, returns, and valuation attractiveness. Initially cautious about India due to high valuations, they show interest despite concerns. Many investors favored China and other emerging markets over India but are now reassessing their investments in light of market dynamics.
The Indian rupee closed marginally weaker on Monday as dollar demand from state-run banks, likely on behalf of importer clients, eroded early gains in the local unit.
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