Rupee against dollar
The Indian rupee has made a long jump against the US dollar today. The rupee closed at 85.40 per dollar (temporary) against the dollar with a gain of 17 paise on Monday at the Interbank Forex Exchange Market. The main reason behind this speed of rupee was weakness in the dollar index and a fall in crude oil prices. According to foreign currency traders, global investors took a vigilant stance due to the reduction in the US investment grade rating by the global rating agency ‘Moody’s’, which led to a decline in the dollar index. The rupee benefited from this. On Monday, the rupee opened at 85.43 per dollar and continued to fluctuate between the highest level of 85.35 and the low of 85.61 in the entire day trading. Finally it closed 17 paise to close at 85.40 per dollar (temporary) against the previous closed price.
Rupee was closed on Friday
On Friday, the rupee weakened by three paise to close at 85.57 per dollar against the US dollar. Anuj Chaudhary, a research analyst at Mirae Asset Sharekhan, says that the rupee can be strengthened due to frequent weakness in the dollar index and the fall in crude oil prices in the international market. However, he also said that the weakness of the domestic stock market can limit the rupee rise. According to Chaudhary, in the coming sessions, dollars are expected to remain within the range of 85.10 to 85.65 in the coming sessions.
Dollar index rolled
Meanwhile, the dollar index, depicting a US dollar position against six major currencies, fell 0.86 percent to 100.22. Globally, crude oil prices also saw a decline, where international standard Brent crude fell 0.78 percent to close at $ 64.90 per barrel.
Talking about the domestic stock market, the 30 -share Sensex fell 271.17 points to close at 82,059.42 points, while NSE Nifty fell 75.35 points to 24,944.45 points. However, foreign institutional investors (FIIs) expressed confidence in the market and remained pure buying in the capital market. According to the stock market data, FII on Friday made a net purchase of shares worth Rs 8,831.05 crore.
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