Dollar to Rupee Rate: Rupee is again witnessing a decline against the dollar in today’s session. The fall in the rupee against the dollar is due to selling in the stock market by foreign investors and rise in the price of crude oil. At the same time, the dollar index, which shows the strength of the American currency, is also trading at 104 points.
Dollar to Rupee Rate: The rupee fell by 5 paise to reach the level of 83.09 against the dollar in early trade on Wednesday. The fall in the rupee against the dollar is being attributed to the rise in crude oil prices and the strengthening of the American currency.
At the same time, due to FII selling in the Indian stock market, there is pressure on the rupee. In Tuesday’s trading session, foreign investors had sold shares worth Rs 1,725.11 crore.
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Due to which reasons the rupee is falling?
Forex traders say that there is pressure on the rupee against the dollar. In the last few days, the rupee has been depreciating due to selling by foreign investors and strengthening of the dollar.
According to the Interbank Exchange, the rupee opened weak against the dollar at 83.08 and after that it reached 83.09. Due to this the rupee declined by 5 paise. The rupee fell 33 paise to close at 83.04 against the dollar in Tuesday’s trading session.
The dollar index, which shows the strength of the dollar against six major currencies of the world, has seen a slight decline and is down by 0.09 percent at 104.71.
Rise in crude oil
Saudi Arabia and Russia have announced a reduction in crude oil production. Due to this, the price of crude oil is increasing. Benchmark Brent crude was up 0.07 percent at $90.10 per barrel.
The stock market started flat on Wednesday. However, the main indices of the market are trading flat. Till the time of writing the news, the Sensex was up 7.98 points at 65,787.99 points and the Nifty was up 0.10 points at 19,576 points.
