The rupee on Monday appreciated by 5 paise to close at 81.66 (provisional) per dollar against the American currency. Due to the weakening of the dollar and increasing investment by foreign institutional investors (FII), the rupee has also got support.
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Strong trend in the domestic stock market and Crude Oil Against the US currency at the Interbank Foreign Exchange market on improving business sentiment among investors due to fall in KYD prices. Rupee On Monday, it has increased by five paise to close at 81.66 (provisional) per dollar. According to market sources, due to the weakening of the dollar and increasing investment by foreign institutional investors (FIIs), the rupee has also got support.
How was the movement of the rupee during the business?
The rupee opened at 81.81 at the Interbank Foreign Exchange market. It went up to a high of 81.61 and a low of 81.83 during the trade. The rupee finally closed at 81.66 per dollar with an improvement of five paise. The previous closing price of the rupee against the US currency was 81.71 per dollar. Meanwhile, the dollar index, showing the weakness or strength of the dollar against six major currencies of the world, declined by 0.35 per cent to 105.59.
At the same time, the global oil standard Brent crude futures declined by 3.10 percent to $ 81.04 per barrel. BSE’s 30-share Sensex rose 211.16 points to close at 62,504.80 points. According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 369.08 crore on a net basis on Friday.
What will be the effect on the common man?
Please tell that the effect of rise and fall in rupee can be seen on the life of common people. This is also being seen in the form of inflation rate in recent times. Weakness in the rupee nullifies the effect of any shortfall in the commodity imported from the international market. Because of this, it takes more time to get the benefit of the fall in crude oil, because the import bill increases due to the weakness in the rupee amid the fall in prices and this keeps the burden on the exchequer.
At the same time, the common man gets the benefit when the prices of commodities fall in the global market and the rupee becomes stronger against the dollar. Common people get relief on the inflation front only when commodity prices fall in the global market and the rupee strengthens.
Source: www.tv9hindi.com”