Rupees Vs Dollar: The improvement in the value of the rupee against the dollar, there was a sharp impact in the stock market
On Friday, the rupee improved by 62 paise to close at 80.78 (tentative) against the US dollar. Due to the bullish trend in the domestic stock market and the continuous investment of foreign investors, the rupee has also got support.
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The dollar index declined against the US dollar on Friday at the interbank foreign exchange market as the US Consumer Price Index (CPI) data came down. Rupee With an improvement of 62 paise, it has closed at 80.78 (tentative) per dollar. According to the PTI report, market sources said that the domestic Share Market The rupee has also got support due to the bullish trend in the rupee and the continuous investment of foreign investors.
The rupee opened at 80.76 in the interbank foreign exchange market. After touching the day’s high of 80.58 and low of 80.99 during trading, it finally closed with a gain of 62 paise at 80.78 per dollar. The rupee had closed at 81.40 per dollar in the previous trading session.
What did the expert tell the reason for the rise in rupee?
Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas said that the Indian rupee has strengthened due to weak US dollar and rise in domestic markets. The rupee has also got support due to continuous increase in foreign investment.
However, the rise in crude oil prices restricted the rupee’s gains. Meanwhile, the dollar index, which shows the weakness or strength of the dollar against the world’s six major currencies, declined by 0.82 per cent to 107.31. Global oil benchmark Brent crude futures rose 2.56 per cent to $96.07 per barrel.
At the same time, the 30-share Sensex of BSE closed at 61,795.04 points, up 1,181.34 points. According to stock market data, Foreign Institutional Investors (FIIs) are net buyers in the capital market. He bought shares worth Rs 36.06 crore on Thursday.
What is the effect of money on the lives of common people?
Let us tell you that the effect of rise and fall in rupee can be seen on common life. This is also being seen in the form of inflation rate in recent times. The weakening of the rupee reduces the effect of any shortage in the imported commodity from the international market. Because of this, it will take more time to reap the benefits of the fall in crude oil, as a depreciation in the rupee amid fall in prices will increase the import bill and this will continue to burden the exchequer.
At the same time, the common man gets the benefit in that situation, when the commodity prices in the global markets will fall and the rupee comes in a strong position against the dollar. Common people get relief on the inflation front only when commodity prices fall in the global market and the rupee strengthens.
(with language input)