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This is an archive article published on July 19, 2013
FII outflow in June,July crosses 10 bn
Fund outflow by foreign institutional investors that picked up sharply in June and hit an all-time high of 7.5 billion in a month,continues to remain strong in the month of July. As on Thursday,the net outflow aggregate of debt and equities crossed 10 billion between June and July and stood at 10.28 billion over Rs hellip;
Written by Express News Service
Mumbai | July 19, 2013 01:24 AM IST
2 min read
2 min read
Fund outflow by foreign institutional investors that picked up sharply in June and hit an all-time high of 7.5 billion in a month,continues to remain strong in the month of July. As on Thursday,the net outflow aggregate of debt and equities crossed 10 billion between June and July and stood at 10.28 billion over Rs 61,200 crore.
In the month of July alone,the net outflow from debt has risen to 1.76 billion while the outflow from equities stood at 981 million,taking the combined outflow at 2.74 billion Rs 16,465 crore.
The majority of the outflow between June and July has been from debt as the debt outflow stood at 7.45 billion as against the equity outflow of 2.8 billion.
The outflow,beginning June 2013,has had a significant impact on the rupee which closed at 59.67 against the US dollar on Thursday.
Even as the Reserve Bank of India took steps to support rupee by raising the short term rates and squeezing the liquidity,the outflow remains steady. While the rupee strengthened from 59.89 against a dollar on Monday to close at 59.31 on Tuesday following the RBIs measures,the continuous outflow by FIIs has led the rupee to slip again and it closed at 59.67 on Thursday.
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