Today a big fall in rupee against the dollar, so much money broke and reached close to 86 once again
US dollar There has been a decline in the rupee against. This decline has come due to withdrawal of money from the Indian market by foreign investors. Let us tell you that on Wednesday, 25 paise in early trade fell to 85.86 against the US dollar. Forex traders reported that although positive domestic stock markets, globally crude oil prices were low and weak US dollar reduced the fall. Let us tell you that the rupee opened at 85.69 per dollar with a weak trend in the interbank foreign currency exchange market. In early trade, the US dollar fell at 85.86, which shows a fall of 25 paise in the previous closed price.
The main reason for the fall in the rupee
- Dollar increasing demand: The dollar remains strong due to uncertainty in the international market. Investors turn to the dollar as a safe option, weakening the rupee.
- Reduction in foreign investment: Foreign investors are withdrawing money from the Indian market. This has also weakened the rupee.
Impact of weakening money on you
- Increase in inflation: Imported goods are expensive due to the weakening of the rupee, which increases inflation.
- Foreign travel and education expensive: The cost of traveling abroad and education increases due to dollar being expensive.
- Benefits to exporters: The weakening of the rupee gives more profit to the exporters, as they get more money in the dollars.
Dollar index close to 99
The rupee closed at 85.61 against the US dollar on Tuesday. Meanwhile, the dollar index, depicting the US dollar position against six major currencies, fell 0.05% to 99.18. The BSE Sensex gained 230.17 points to 80,967.68 points in the domestic stock market, while the Nifty rose 70.25 points to 24,612.75 points. International standard Brent crude fell by 0.32% to $ 65.42 per barrel. According to the stock market data, foreign institutional investors (FIIs) were selling on Tuesday and purely sold shares worth Rs 2,853.83 crore.
Latest business news
