Top 5 Factors Behind the Indian Rupee’s Fall: Uday Kotak’s Take on Investors and Nifty’s Zero Dollar Gains

The Indian rupee fell below the Rs 90 mark against the US dollar, marking a historic low. Uday Kotak, a veteran banker, attributes this to persistent foreign portfolio investor (FPI) selling, which has led to a slump of 5% in the rupee over the year, making it one of the worst-performing currencies. Despite this, Kotak praises domestic institutional investors (DIIs) for their consistent market buying, contrasting with FPIs' continued sell offs. He believes FPIs appear smarter, as the Nifty 50 index has delivered zero returns in US dollar terms, despite local currency gains.