The Indian rupee traded at 94.81 per dollar, after being Asia's worst-performing currency until a week ago, falling 7% over nine months following a 5% decline in 2025. To defend the psychological 100 level, the RBI mobilised $133 billion through FCNR(B) deposits in June, sold a net $53 billion in FY26, and raised the repo rate by 0.25 percentage points to 5.50%. Net FII outflows reached $32.8 billion in the first 10 months of the calendar year, versus $16 billion in all of 2025, as capital shifted to AI, semiconductors and data centres and US interest rates stayed high. The author argues these measures are only palliative and that attracting and retaining FII inflows matters most, with FII taxation as a key issue. The Finance Minister has hinted at a possible review of long-term capital gains rates for FIIs.
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Related tickers and likely impact
DXY
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 101.70 |
| Change that session | -0.28% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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