Today a big fall in rupee against dollar, now 1 dollar has been priced so much, know why Indian currency is breaking
Foreign investors The rupee fell by 52 paise to 87.70 (temporary) against the US dollar on Monday, due to the frequent withdrawal and uncertainties affected by investors to affect the business perception of investors due to the business perception of investors. Forex traders said that high customs leveled by US President Donald Trump have created new concerns about widespread disruption in the global trade scenario. The rupee declined during the trading due to the demand of dollars from the oil marketing companies (OMC). The rupee opened at 87.21 against the US currency in the Interbank Forex Exchange Market. The rupee later went to a low of 87.70. The rupee closed at 87.70 (temporary) per dollar at the end of the trading session, which is a major decline of 52 paise in the previous closed price. On Friday, the rupee rose 47 paise to close at 87.18.
Indian rupee is breaking due to this
Anuj Chaudhary, a research analyst (commodity and currency) at Mirae Asset Sharekhan, said, “We estimate the rupee amid uncertainty over the Indo-US trade agreement and the capital withdrawal of foreign institutional investors (FIIs). However, amid discussions on the expectations of cutting interest rates in the US, weakness in US dollar may give the rupee support on lower levels. “He said,” Traders may take hints from the data of factory order coming from the US. ” This week, investors may be cautious before the Reserve Bank’s monetary policy decision. ”He said that the spot of dollar-rupa is expected to be between 87.40 and 88.
RBI’s monetary policy is now monitored
The interest rate assessment committee headed by the Reserve Bank Governor Sanjay Malhotra on Monday started a three-day discussion to decide on the next bivalent monetary policy. The six -member Monetary Policy Committee (MPC) will declare the next bilateral policy rate on Wednesday. The dollar index measuring the strength of the dollar compared to the world’s six major currencies declined by 0.37 percent to 98.77. The BSE Sensex in the domestic stock market rose 418.81 points to close at 81,018.72, while the Nifty increased by 157.40 points to close at 24,722.75. According to share exchange data, the FII capital market remained pure selling. He sold shares worth Rs 3,366.40 crore on a pure basis on Friday.
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