Rupee fell in the initial session of the first trading day, Indian currency became so weak against the dollar today
Dollar vs Rupee: Due to the fall in the stock market on the first trading day on Monday, the Indian currency Rupee declined against the US dollar in early trade. Today the rupee opened at 83.31 against the dollar on the Interbank Foreign Exchange. The rupee touched a low of 83.32 in early trade. Know how the dollar index is performing. Read what is the complete news.
In view of the negative trend in the stock market on Monday, the first trading day of the week, the rupee is trading weak against the US dollar in early trade. Today in early trade the rupee fell by 4 paise to 83.32.
The rupee opened at 83.31 against the dollar on the Interbank Foreign Exchange. The rupee hit a low of 83.32 in early trade, showing a decline of 4 paise over its previous close. The rupee closed at 83.28 against the dollar on Friday.
India Forex and Asset Management Private Limited (IFA Global) said in a research report, "We expect RBI to intervene to bring it to the range of 83.20-83.30. We otherwise expect a range-bound session with reduced volumes due to the festive season."
The dollar index, which gauges the strength of six currencies against the dollar, is trading 0.04 percent lower at 105.82. Global oil benchmark Brent crude futures fell 0.93 percent to US$80.67 per barrel.
India's foreign exchange reserves rose by US$4.672 billion to US$590.783 in the week ended November 3, the Reserve Bank of India said on Friday.
According to the central bank, foreign currency assets, a significant part of reserves, increased by US$4.392 billion.
