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Dollar vs Rupee: The Indian rupee reached its lowest level in the last four months due to the continuous strong US dollars and the selling of foreign investors in the domestic stock market. On Tuesday, the price of the rupee fell 18 paise to 86.88 against the dollar. Foreign traders say that the US currency remains strong due to the continuous demand of the dollar from the importers, which has put pressure on the rupee. Along with this, the withdrawal of foreign capital and domestic stock market lethargy has also weakened the notion of investors.
Why is the rupee weakening?
Actually, the rupee opened at 86.76 against the US dollar in the interbank foreign exchange market. After this, the low -lying level of 86.88 per dollar touched a decline of 18 paise in the previous closed price. The rupee closed at 86.70 against the dollar on Monday. Meanwhile, the dollar index showed 0.01 percent to 98.64, depicting the US dollar position against the currencies of six major countries.
stock market crash
Talking about the domestic stock market, the S&P BSE Sensex was trading down 62.31 points to 80,828.71 on Tuesday at around 9.30 am. While the Nifty 50 on NSE also fell 7.20 points to 24,673.70. Today, the shares which have seen a boom during early trade, have gained 0.77 percent jump in Trent. While Realis Industries has also gone up 0.77 percent, Tato Motors 0.66 percent, Sun Pharmaceutical Industries 0.63 percent and Kotak Mahindra 0.58 percent.
International Standard Brent crude gained 0.04 percent to a price of $ 70.07 per barrel. According to the stock market data, foreign institutional investors (FIIs) were selling on Monday. He purely sold shares worth Rs 6,082.47 crore.
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