The dollar index declined by 0.19 percent to 105.87. At the same time, the prices of crude oil are also continuing to fall. These signs have helped the rupee
Rupee strengthens against dollar
A weakening of the dollar in overseas markets and a rise in domestic equities boosted business sentiments among investors, due to which the rupee on Thursday gained 30 paise to close at 81.63 against the American currency at the Interbank Foreign Exchange market. Happened. Marketmen said the dollar weakened in international trade following weak US economic data and signs of easing of accommodative stance by the Federal Reserve. The benefit of which has been given to the domestic currency. At the same time, the confidence of investors has increased in the stock market even from the record level.
how was today’s market
The rupee opened at 81.72 at the Interbank Foreign Exchange market. After touching a day’s high of 81.60 and a low of 81.77 during the day, the rupee finally settled 30 paise higher at 81.63 against the American currency. The rupee on Wednesday declined by 26 paise to close at 81.93 against the US dollar in the interbank foreign exchange market. Meanwhile, the dollar index, which shows the weakness or strength of the dollar against six major currencies of the world, declined by 0.19 percent to 105.87. This has benefited Rs.
Among other factors that weighed on the rupee, global oil benchmark Brent crude futures declined 0.32 per cent to $85.14 per barrel. At the same time, the 30-share Sensex of BSE closed at 62,272.68 points with a gain of 762.10 points. According to stock market data, Foreign Institutional Investors (FIIs) remained net sellers in the capital market. He sold shares worth Rs 789.86 crore on Wednesday.
India benefits from weakness in dollar and crude
Weakness in dollar and crude is expected to benefit the Indian economy. Due to the strengthening of rupee and fall in crude oil, India’s import bill will reduce, this will not only affect the inflation rate, but will also help in strengthening the Indian treasury. If this trend continues, then there is a possibility that the retail prices of oil will decrease in the country, which will help in controlling inflation.
Source: www.tv9hindi.com”