Dollar Vs Rupee: Indian currency opened strongly today, increased by so many rupees against the dollar
Share Market Today: The rupee opened with a slight gain of 2 paise against the dollar in Friday's trading session. This increase has stopped the downward trend. Today, along with the Indian currency, the stock market is also open on the green mark. The reason for this increase is that the dollar weakened in the global market on Thursday.
The stock market opened with gains in Friday's trading session. At the same time, the US dollar has become weak in the international market. This fall has halted three days of decline in the rupee. Today the rupee rose by 2 paise to reach 83.23 against the US dollar.
This slight increase has positively influenced investors. Forex traders said rising crude oil prices and selling pressure from foreign equity investors were weighing on the Indian currency.
In the interbank forex market today, the local unit opened at 83.24 and rose to 83.23 against the greenback, 2 paise higher than its previous close. On Thursday, the rupee fell for the third consecutive day and closed at 83.25 against the dollar by 8 paise. At the same time, on Monday, the first day of the week, the rupee had fallen by 4 paise, after which on Wednesday it fell by 1 paise and closed at 83.17 against the dollar. Foreign exchange markets were closed on 24 October 2023 on the occasion of Dussehra.
Meanwhile, the dollar index was trading 0.03 percent lower at 106.57. Global oil price benchmark Brent crude rose by a sharp 1.27 percent to US$89.05 per barrel.
The period of decline in the stock market has also stopped. Today the Sensex rose 272.63 points or 0.43 percent to 63,420.78, while the Nifty rose 88.20 points or 0.47 percent to 18,945.45. According to exchange data, foreign institutional investors sold equities worth Rs 7,702.53 crore on Thursday.
