Dollar & Rupee: Indian Rupee Falls Down in international Market
Dollar & Rupee: Rupee has fallen by 83.29 per dollar. The fall of Rupee against Dollar has reached historical level today. Today another decrease of 13 paise has been seen in it. The reason behind the sharp decline in the rupee against the US dollar in the Interbank Foreign Currency Exchange market is the continuous increase in crude oil prices. And the dollar is also increasing strongly against other currencies in the international market.
Rupee reaches its all-time low
Due to this, sentiments for the rupee have weakened today. The rupee declined against the dollar for the fourth consecutive trading session and has reached its lowest level till date. Forex traders say. Apart from this, negative sentiment in the domestic share market is also affecting the sentiments of investors. In the Interbank Foreign Currency Exchange market, the rupee opened at 83.09 and during the day's trading it remained in the range of 83.09 to 83.30 per dollar. However, it last closed at 83.29 (temporary) per dollar. The rupee fell to an all-time low, showing a decline of 13 paise from Friday's closing price.
The trend of weakness has not stopped yet
In the last trading session on Friday, the rupee fell by 13 paise and closed at 83.16 per dollar. According to PTI, HDFC Securities Research Analyst Dilip Parmar said that after the increase in Risk Reward Ratio and crude oil prices before the holidays, the rupee has closed at another record low. Which shows. That the trend of weakness has not stopped yet. The country's export-import figures have been declared on Friday. And this time there has been disappointment on both the import and export fronts.
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Decrease has been seen in both imports and exports
Exports have also decreased. And imports have also declined. Its effect has also affected the value of rupee. According to government data released on Friday, India's exports declined by 6.86 percent to $34.48 billion in August. Whereas in the same month last year it remained at $37.02 billion. Imports also declined by 5.23 percent to $58.64 billion, which was seen at $61.88 billion in the month of August last year.
Superfast News Coverage By YuvaPatrkaar.com Team
Publish Date: September 19, 2023
Posted By Rahul Bhardwaj