Forex News Update: Indian Markets Closed for Mahashivratri

Hello, traders! Today, we're bringing you the latest updates from the Indian markets, which remained closed due to Mahashivratri festivities. Let's quickly recap what unfolded before the holiday. Benchmark indexes, Sensex and Nifty, ended the previous trading session on a flat note after experiencing a significant decline over the last five trading days. In currency news, the Indian rupee weakened by 51 paise, closing at 87.2 against the U.S. dollar—its sharpest decline in three weeks. This drop was largely attributed to importer hedging and increased dollar demand as the expiry of non-deliverable forward (NDF) contracts approached. Looking at the investments, foreign institutional investors were net sellers, offloading shares worth approximately Rs 3,529 crore. Meanwhile, domestic institutional investors stepped in as net buyers, purchasing around Rs 3,031 crore, according to provisional data. Turning our gaze to Asian markets, they sh...