Rupee Vs Dollar: Flat move in opening of Rupee, today came in red mark at 79.93

 Rupee Vs Dollar: Flat move in opening of Rupee, today came in red mark at 79.93

Rupee at All time Low: The rupee has seen a historic fall on Thursday in case of the dollar. Due to heavy selling by lender , the rupee fell for the first time by 27 paise to Rs 78.40 against a dollar. At the close of the money market, the rupee has closed at Rs 78.38 in case of a dollar.

Rupee battered against dollar

The rupee opened at 78.13 against the dollar in the inter bank money exchange market. But due to heavy selling of investors in the afternoon, it went down to Rs 78.40. If there was no weakness in the international market in crude oil rate , then the rupee could have fallen further. Due to the selling of foreign lender , Sensex 709 and Nifty closed with a fall of 225 points in the Indian stock market. 

Why did the rupee fall?

The rupee has been depreciating against the dollar always since the war between Russia and Ukraine. The rupee has fallen to its all-time low of Rs 78.40 against the dollar as foreign investors withdrew their funding due to global volatility. Let us tell you that before the war started on February 23, 2022, the rupee was at Rs 74.62 against the dollar, and that  has fallen to Rs 78.40 on June 22, 2022. Actually, it is being feared that the US Federal Reserve may increase the interest rate further. Foreign lender have so far withdrawn more than Rs 2 lakh crore funding in Indian markets. 

How was the business yesterday in rupees

In yesterday’s trade, the rupee had gone down to the all-time low of Rs 80.05 per dollar during trading, but later it closed with gains in the domestic stock market and regional money . The rupee opened at 80.00 per dollar in the interbank foreign exchange market yesterday and hold out the all-time low of 80.05 during trading. Later the rupee better slightly and it closed at Rs 79.92 per dollar with a gain of six paise ones again its previous closing rate . 

what the experts say

HDFC safety Research Analyst Dilip Parmar said the rupee had crossed the psychological level of Rs 80 per dollar amid higher crude oil prices. Today, even so , the mediation of the central bank, the strengthening of money of other nation and a sharp rise in the stock market have help the rupee. 

Dollar index status

The dollar index, and that count the strength of the dollar against the world’s six great money , has declined 0.66 percent to 106.66 points. Apart from this, the global level Brent crude upcoming fell 0.40 per cent to $105.84 per barrel.