Rupee Vs Dollar: The fall of the rupee is not taking the name of stopping and today the rupee fell by 5 paise to a record low of 79.11 during early trade. This is the lowest level of Rs. The weakness of the rupee in front of the dollar’s strength remains a matter of concern for the RBI.
Rupee opened on weakness against dollar
The rupee on Thursday closed at a new all-time low of Rs 79.06 per dollar, down by three paise against the US dollar. Today, with a fall of 5 paise, it has opened at Rs 79.11 per dollar.
In the interbank foreign currency market, the rupee opened with a weak trend against the US dollar at 78.99. Later the local currency weakened further to 79.11. The rupee has come down to the lowest level ever against the dollar, showing a fall of 5 paise against the previous closing price.
Why is the rupee falling
Due to the continuous selling of foreign funds, the sentiment of investors is weakening, which is affecting the business of the rupee and its weakness is increasing continuously. Foreign institutional investors sold shares worth a net Rs 1,138.05 crore on Thursday, according to provisional data of the stock market, which is a major reason for the falling rupee.
Dollar index status
Meanwhile, the dollar index, which shows the position of the US dollar against the six major currencies, was up 0.21 percent at 104.90. Global oil benchmark Brent crude futures rose 0.05 per cent to $109.09 per barrel.