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Rupee vs Dollar: The US dollar is constantly weakened in front of the Indian rupee amid the softening of crude oil. The rupee rose six paise to 85.44 per dollar during early trade on Monday. In the Inter Banking Foreign Currency Exchange, the rupee opened at the price of 85.48 compared to the dollar. Forex Traders says that the US dollar has weakened in the overseas market and is trading at 97 levels. Whereas after the reduction in tension in the Middle East, the price of Brent crude oil has come down to $ 67 amidst the expectation of increasing oil supply by the OPEC Plus group in August.
Low stress in middle East softens crude oil
The news of the ceasefire in Iran and Israel has brought tremendous relief to the oil market. After this, where the price of crude oil has fallen on one side, on the other hand its value has also declined due to decrease in demand for dollars.
International Standard Brent crude fell 0.18 percent to $ 67.65 per barrel. According to the stock market data, foreign institutional investors (FIIs) were living on Friday and purely bought shares worth Rs 1,397.02 crore.
stock market crash
Here, on Friday, the rupee closed at 85.50 against the US dollar. In such a situation, opening at 85.44 per dollar during early trade on Monday shows an increase of 6 paise in Rs. Here, the dollar index, depicting the US dollar position against the 6 major currency, fell 0.15 percent to 97.25.
On the other hand, the Sensex in domestic stock slipped to 83,809.87 points during early trade. While the Nifty fell 66.90 points to 25,570.90.
Also read: Karnataka Bank shares decline by 8 percent, fall below 200, director-CEO resigns
