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Rupee vs Dollar: Today again Rupee opened weak against Dollar, doing business by losing so much money
Rupee vs Dollar: The rupee fell by 1 paise to 83.38 against the dollar. Falling crude oil prices and rising retail inflation along with a subdued trend have weighed on the rupee. In the foreign exchange market, the rupee opened at 83.39 and was trading with a slight rise against the dollar at 83.38, which is 1 paise less than the previous close.
Today, the rupee fell by 1 paise to 83.38 against the US dollar in early trade. According to forex analysts, falling crude oil prices and rising retail inflation along with a subdued trend weighed on the rupee.
At the forex market, the rupee opened at 83.39 and was trading marginally higher at 83.38 against the dollar, 1 paise lower than its previous close. On Tuesday i.e. yesterday, the rupee had closed at 83.37 against the dollar.
The dollar index, which compares the dollar against six other currencies, was trading 0.02 per cent higher at 103.48. Apart from this, global oil benchmark Brent crude futures fell 0.20 per cent to US $ 73.09 per barrel.
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According to the official data released yesterday, retail inflation in the country has increased the most in three months to 5.55 per cent in November. However, retail inflation remains within the RBI estimate of 6 per cent.
Industrial production growth rose to a 16-month high of 11.7 per cent in October due to double-digit growth in the manufacturing, power and mining sectors, according to official data released yesterday.
On Wednesday, BSE Sensex was trading at 69,530.19, down 20.84 points or 0.03 per cent. Whereas Nifty had increased by 5.15 points or 0.02 per cent to reach 20,911.55 points.
According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 76.86 crore from the capital market on Tuesday.
