The fall in the rupee happened because of huge buying by public sector undertaking (PSU) oil companies.
So, it was not due to FII-related buying of dollars and moving out of India. It was triggered by inherent import demand in the country led by PSU banks buying for PSU companies.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
