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Indian Rupee vs US Dollar: The rupee strengthened 9 paise to 86.43 against the dollar during early trade on Monday amidst ongoing talks over the trade agreement between India and the US. Foreign currency traders say that despite the demand for dollars from importers, the rupee is showing strength in a limited range.
22 paise broke on Saturday
The rupee opened with a positive trend in the interbank Foreign Exchange Market and reached 86.43 level compared to the dollar during early trade. This shows a 9 paise lead in a closed price during the last trading session. On Saturday, the rupee fell by 12 paise to close at 86.52 against the US dollar. The dollar index, depicting a US dollar position against six major currency, fell 0.03 percent to 97.61.
stock market crash
The first business day of the week started on Monday with a decline. The 30 -point Sensex on BSE was falling at 349.29 points i.e. 0.43 percent to 81,097.42 at around 9.15 am. While the Nifty-50 was also trading at the level of 86.60 points, or 0.36 percent to 24,745.35.
Dr. V.K. Vijaykumar says that due to negative news, weak performance of IT sector and selling of FIIs, the Nifty has shown weakness between a recent two -month stable period. The trade deal between the Japan -America created some positive atmosphere, but a cordial trade deal between India is still in incomplete stage. The direct impact of this uncertainty is visible on the market perception.
International Standard Brent crude gained 0.48 percent to a price of $ 68.77 per barrel. According to the stock market data, foreign institutional investors (FIIs) were selling on Friday. He purely sold shares worth Rs 1,979.96 crore.
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