The rupee on Friday closed with a gain of four paise at 82.75 per dollar (tentative). The rupee had initially declined.
The rupee on Friday closed with a gain of four paise at 82.75 per dollar (tentative).
Against the US currency, the rupee on Friday closed higher by four paise at 82.75 per dollar (provisional). The rupee had initially declined. But with the rise in the domestic stock market, it closed in the lead. The rupee opened at 82.89 in the inter-bank foreign exchange market and after touching a high of 82.59 and a low of 82.91, finally closed four paise higher at 82.75 against Thursday’s closing price.
On Thursday, the rupee recovered from its all-time low and closed 21 paise higher at 82.79 against the dollar.
The dollar index, which measures the strength of the dollar against the world’s six major currencies, has risen 0.47 percent to 113.41. On the other hand, the BSE Sensex climbed 104.25 points to end at 59,307.15.
Apart from this, international oil standard Brent crude futures fell 0.11 percent to $ 92.28 per barrel. According to stock market data, foreign institutional investors have been net buyers in the capital market. He bought shares worth Rs 1,864.79 crore on Thursday.
What is the effect of rupee on common man?
The impact of rupee depreciation can be seen on common man’s life. This is also being seen in the form of inflation rate in recent times. The weakening of the rupee reduces the effect of any shortage in the imported commodity from the international market. In such a situation, it will take more time to get the benefit of the fall in crude oil because the depreciation of rupee in the midst of fall in prices will increase the import bill and this will continue to burden the exchequer. Right now there is a decline in crude oil in the foreign markets, but due to the weakening of the rupee, the common people are not getting the benefit of it.
The common man gets the benefit when the commodity prices fall in the world markets and the rupee becomes stronger against the dollar. Common people get relief on the inflation front only when the commodity prices fall in the global market and the rupee strengthens. However, seeing the recent declines, there is no possibility of strengthening the rupee so soon. The rupee has been trading at a lower level against the dollar for several days in a row.
(with language input)
Source: www.tv9hindi.com”