Rupee ends down for week, but fares better than Asian peers

The Indian rupee closed the week lower but outperformed its Asian counterparts due to increased foreign inflows and the absence of dollar demand from oil companies. Foreign investors invested about $1.4bn in Indian equities between Monday and Wednesday. Meanwhile, the offshore Chinese yuan was down 1.3% for the week, the Korean won lost 2.5%, and the Thai baht fell 1.7%. The near-term implied volatility on the rupee remained low, with the 1-month near 3%.