March 30, 2023


Indian rupee depreciates due to correction in US dollar and weak trend in domestic markets
On Friday, the rupee had closed at 80.78 per dollar.
Dollar index rose 0.59 per cent to 106.91

Mumbai. In view of the improvement in the US currency and a sluggish trend in the domestic stock market, the rupee (Rupee) on Monday declined by 48 paise to 81.26 (tentative) against the US dollar in the Interbank Foreign Exchange market to close at 81.26 (tentative) per dollar. Traders said rising crude oil prices also affected the sentiments of traders.

According to the news agency PTI, the rupee opened with a strong trend at 80.53 in the interbank foreign exchange market. During the trading, the initial gains of the rupee disappeared and finally it closed at 81.26 per dollar, down 48 paise against the US currency. This shows a fall of 48 paise in the rupee compared to the previous trading session. On Friday, the rupee had improved by 62 paise to close at 80.78 per dollar.

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Improvement in US dollar and weakness in domestic markets
Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, said, “The correction in the US dollar and a weak trend in the domestic markets led to the fall in the Indian rupee. However, the rupee opened higher on the back of better macroeconomic data.”

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Brent crude futures fell 0.63 per cent to $95.93 a barrel
Meanwhile, the dollar index, which shows the weakness or strength of the dollar against the world’s 6 major currencies, gained 0.59 percent to 106.91. Global oil benchmark Brent crude futures fell 0.63 per cent to $95.93 per barrel.

Sensex down 170.89 points to close at 61,624.15 points
On the other hand, the 30-share Sensex of BSE closed at 61,624.15 points, down by 170.89 points. According to stock market data, Foreign Institutional Investors (FIIs) were net buyers in the capital market. He bought shares worth Rs 3,958.23 crore on Friday.

Tags: Dollar, Rupee weakness, US

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