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Dollar vs Rupee: On the one hand, while the announcement of 25 percent new tariffs imposed on India and the purchase of crude oil from Russia by US President Donald Trump, the stock market was stirred on Thursday morning, while crores of investors were drowned in a few minutes. Meanwhile, the Indian rupee on Thursday improved 14 paise to reach 87.66 against the US dollar during early trade on Thursday, which is its lowest level ever.
Recovery in rupee:
This recovery in the rupee has been seen at a time when the possibility of intervention of the Reserve Bank of India (RBI) increased after Trump’s warning. Foreign currency traders say that in the last three years, the rupee has come back a bit after the biggest decline in a day against the dollar. However, it is still trading with a negative attitude.
On Wednesday, the rupee reached a record low of 87.80 against the dollar. At the same time, the dollar index, depicting the US dollar position against six major currencies, fell 0.03 percent to 99.78.
stock market crash:
Indian domestic stock markets saw a decline after Trump’s tariff was announced. The BSE Sensex fell 582.49 points to 80,899.37 in early trade, while NSE Nifty also fell 151.70 points to 24,802.45. The price of International Standard Brent crude fell 0.19 percent to $ 73.10 per barrel.
According to stock market data, foreign institutional investors (FIIs) were pure selling on Wednesday. He sold shares worth Rs 850.04 crore. On the other hand, the Federal Reserve has not cut any kind of interest rates. Negotiations are going on between India and America about the trade agreement, which still keeps the expectation for exporters ..
