Indian economy got a shock, rupee fell today
The rupee declined by nine paise to close at 81.35 (provisional) per dollar. Due to the increase in the withdrawal of foreign capital from the market, the business sentiment of investors has also been affected.
The rupee declined by nine paise to close at 81.35 (provisional) per dollar.
The rupee on Friday declined by 9 paise to close at 81.35 (provisional) against the American currency at the Interbank Foreign Exchange market on Friday due to a weak dollar in local markets and a rise in crude oil prices. Market sources said that due to increased withdrawal of foreign capital from the market, the business sentiment of investors has also been affected.
rise in crude oil
The rupee opened at 81.11 at the Interbank Foreign Exchange market. The rupee lost all gains during the trade and at the end of the trade it closed at 81.35 per dollar, showing a fall of nine paise. The rupee touched a high of 81.08 and a low of 81.35 during the day. In the previous session, the rupee had gained four paise to close at 81.26 per dollar. Meanwhile, the dollar index, showing the weakness or strength of the dollar against six major currencies of the world, declined by 0.18 per cent to 104.53.
At the same time, the global oil standard Brent crude futures have increased by 0.17 percent to $ 87.03 per barrel. BSE’s 30-share Sensex declined 415.69 points to close at 62,868.50 points. According to stock market data, foreign institutional investors (FIIs) were net sellers in the capital market and sold shares worth Rs 1,565.93 crore on Thursday.
What is the effect of money on your life?
Let us tell you that the effect of rise and fall in rupee can be seen on the life of common people. This is also being seen in the form of inflation rate in recent times. Weakness in the rupee nullifies the effect of any shortfall in the commodity imported from the international market. Because of this, it takes more time to get the benefit of the fall in crude oil, because the import bill increases due to the weakness in the rupee amid the fall in prices and this keeps the burden on the exchequer.
At the same time, the common man gets the benefit when the prices of commodities fall in the global market and the rupee becomes stronger against the dollar.
(with language input)