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Dollar vs Rupee: The Indian rupee could not stand in front of the strength of American dollar. As soon as the third business day of the week started, the rupee lost 17 paise to 85.90 against the dollar. If Foreign Money Traders is to be believed, then due to the fall in crude oil prices, the rupee is not being seen to fall in the rupee, which was expected. The softening in the price of crude oil has saved the rupee from breaking.
In the Inter Banking Foreign Money Exchange Market, the Indian rupee opened at 85.84 against the dollar today and then reached the level of 85.90 against per dollar. It shows a decline of 17 paise more than the closed price of the rupee a day earlier.
Rupee strengthening on Tuesday
On Tuesday, the rupee strengthened by 21 paise to close at 85.73 compared to the US dollar. On the other hand, the dollar index showed by 0.17 percent in the dollar indicating the US dollar against the six major karsi and it reached 97.68.
Here, there was a decline in the Indian stock market on Wednesday during early trade. On behalf of US President Donald Trump, 50 percent tariff on copper and 200 percent tariff on pharmaceutics have alerted investors by 10 percent additional fee on a group of BRICS countries. Because of this, there was tremendous pressure in the US market.
Decline in IT Stocks
Today IT and metal stocks have seen a decline. ICICI Bank dropped 0.88% and Tata Steel 0.86%. HCL Technologies fell 0.76%, Larsen & Turbo fell 0.68 percent and Infosys down 0.55%. While Asian Paints shares in the top 5 gainers rose up 1.70%. Hindustan Unilivor 1.01%, Maruti Suzuki 0.52%, Titan 0.41% and Bajaj Finance 0.40%.
If the Chief Investment Strategist Dr. VK Vijay Kumar, the Chief Investment of the Jeepy Investment, the biggest trend in the global market at this time is that he is ignoring the things that are being raised about the current tarf and still waiting for more clarity.
