After an extremely stable 2023, the Indian rupee started 2024 on a promising note and has turned out to be the best-performing Asian currency so far in January, appreciating 0.1 per cent despite 2 per cent rise in the dollar index.
All other Asian currencies depreciated by around 1.4-4 per cent during the month.
The local currency regained its ground against the greenback on the back of foreign portfolio inflows, said market participants.
The inclusion of Indian government bonds in global indices adds to their global acceptability and makes it more attractive for foreign investors to buy them.
Foreign institutional investors (FIIs) bought shares worth Rs 16.03 crore, while domestic institutional investors (DIIs) purchased Rs 155.96 crore worth of stocks on January 8, provisional data from the NSE showed.
Government of India bonds are likely to get a further boost with global financial advisory firm Bloomberg, proposing their inclusion in its index, a development that comes close on the heels of JPMorgan’s decision to include these bonds in its global