Dollar Vs Rupee: If dollar strengthened then Indian currency fell, rupee slipped by so much
Dollar Vs Rupee: The impact of the strengthening of the dollar yesterday has been seen in the Indian currency. Today the rupee opened with a fall of 5 paise against the dollar. The stock market, after falling in early trading, is back on the rise. There has been a softening of crude oil prices in the global market.
The strength of the dollar in foreign markets has affected the Indian currency. On Thursday, the rupee fell 9 paise to 83.18 against the US dollar. Forex dealers said FII inflows and a fall in crude oil prices helped the rupee stop its decline.
Today the rupee opened with a decline at 83.18 against the American currency in the interbank foreign exchange market. It remained in a limited range in morning trading. The rupee on Wednesday gained 24 paise to close at 83.09 against the US dollar as the US currency retreated from its highs after US inflation came in lower than expected.
The dollar has risen 0.14 percent to 104.54 in the dollar index. Global oil benchmark Brent crude futures fell 0.91 percent to US$80.44 per barrel.
Oil prices fell further in Asian trading due to signs of weak demand in China and a bigger-than-expected weekly increase in US crude inventories, analysts said.
Today BSE Sensex fell 127.70 points or 0.19 percent to 65,548.23. The broader NSE Nifty fell 24.30 points, or 0.12 percent, to 19,651.15. According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 550.19 crore on Wednesday.
