The fierce sell-off in the global market is having an impact on the business of the whole world. On Monday, the Indian rupee opened on a weak note and fell to an all-time low of 83.80 against the US dollar. Foreign exchange traders said that the main reason for this sharp fall in the domestic currency is the sharp fall in the Indian stock markets and the withdrawal of foreign capital. Apart from this, the risk of recession has increased due to the worse than expected US job report and the growing tension in the Middle East has also worsened the situation.
Rupee hits all-time low of 83.80 per dollar
The rupee opened at 83.78 per dollar at the interbank foreign exchange market and after initial deals fell to an all-time low of 83.80 per dollar. This shows a decline of 8 paise from the previous session’s closing price. The rupee closed at 83.72 against the US dollar on Friday.
The dollar index fell 0.24 percent
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six major currencies, fell 0.24 per cent to 102.95. Global oil benchmark Brent crude futures were up 0.30 per cent at USD 77.04 per barrel.
Domestic markets opened with a huge decline on Monday
Let us tell you that the domestic markets opened with a big decline on Monday. The BSE Sensex opened at 78,588.19 points with a decline of 2393.76 points. Apart from this, the NSE Nifty 50 also opened at 24,302.85 points with a loss of 414.85 points.
A big decline was also recorded on Friday
Earlier, on Friday last week, the domestic stock market also witnessed a big decline. On Friday, the Sensex closed with a decline of 885.60 points and the Nifty closed with a decline of 293.20 points. According to stock market data, foreign institutional investors (FIIs) remained sellers in the capital market on Friday. They withdrew money by selling shares worth Rs 3,310.00 crore on Friday.
With PTI inputs
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