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Rupee Vs Dollar: Flat move in opening of Rupee, today came in red mark at 79.93

Rupee Vs Dollar: The movement of the rupee looks flat today and it has opened at Rs 79.93 per dollar against the dollar. The rupee had closed at 79.92 against the dollar yesterday. It is believed that the ‘intervention’ of the Reserve Bank has also improved the rupee.

How was the business yesterday in rupees
In yesterday’s trade, the rupee had gone down to the all-time low of Rs 80.05 per dollar during trading, but later it closed with gains in the domestic stock market and regional currencies. The rupee opened at 80.00 per dollar in the interbank foreign exchange market yesterday and reached the all-time low of 80.05 during trading. Later the rupee improved slightly and it closed at Rs 79.92 per dollar with a gain of six paise against its previous closing price.

what the experts say
HDFC Securities Research Analyst Dilip Parmar said the rupee had crossed the psychological level of Rs 80 per dollar amid higher crude oil prices. Today, however, the intervention of the central bank, the strengthening of currencies of other countries and a sharp rise in the stock market have supported the rupee.

Dollar index status
The dollar index, which measures the strength of the dollar against the world’s six major currencies, has declined 0.66 percent to 106.66 points. Apart from this, the global standard Brent crude futures fell 0.40 per cent to $105.84 per barrel.

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