The rupee jumped today against the dollar, the biggest decline of 2.5 years came on Thursday
Dollar vs rupee: The rupee has returned to strength today against the dollar. On Friday, the rupee rose by 17 paise to close at 85.41 (temporary) per dollar in the foreign currency exchange market. Possible intervention of the Reserve Bank of India helped to recover the rupee. Forex traders said that the rupee opened with a weak trend due to increasing tension between India and Pakistan. However, the Reserve Bank intervened in business to prevent major fall. The rupee opened at 85.88 in the Interbank Forex Exchange Market and wandered between the highest level of the day of 84.32 and the low of 85.88 against the dollar. At the end of the trading, the rupee closed at 85.41 per dollar (temporary), showing a gain of 17 paise from its previous closed level.
There was a decline of 81 paise
The rupee saw the biggest one -day decline of more than two and a half years on Thursday and had fallen by 81 paise to close at 85.58 per dollar against the dollar. Anuj Chaudhary, a research analyst at Mirae Asset Sharekhan, said the Indian rupee opened weak on Friday amidst increasing geopolitical tension across the border. The increase in weak domestic market and crude oil prices also put pressure on the rupee. He said, however, the rupee strengthened the second part of the session due to the repair of the dollar sales report by the Reserve Bank of India.
Dollar index declines
Meanwhile, the dollar index measured by 0.26 percent to 100.38, measuring the dollar strengthening compared to six competitive currencies in the world. Global oil standard brent crude futures increased by 1.80 percent to $ 63.97 per barrel. Chaudhary said that we hope that the rupee will trade with a negative attitude because the rupee may remain under pressure due to increasing India-Pak tension. The rising crude oil prices and the tendency to avoid risk in domestic markets can put further pressure on the rupee. Chaudhary said, however, the FII flow can support the rupee at the lower levels. Even if the tension is reduced in the weekend, the rupee can support the lower levels.
Large fall in Sensex-Nifty
The BSE’s 30 -share Sensex fell 880.34 points to close at 79,454.47 points, while the Nifty fell 265.80 points to close at 24,008.00 points. According to the stock market data, foreign institutional investors (FIIs) remained pure buying in the capital market on Thursday. He purely bought shares worth Rs 2,007.96 crore.
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