Dollar vs rupee: Today, on Tuesday, the Indian rupee has increased by 12 paise to close at Rs 87.07 per dollar. And closed at 87.19 on Monday. The Indian rupee’s oning was also strong this morning due to Donald Trump’s decision to stop tariffs on Canada and Mexico and open a conversation with China. The Indian rupee opened at 87.0300 against the US dollar today.
Research analyst Anuj Chaudhary at Mirai Asset Sharekhan It is said that the Indian rupee showed over its alltime low due to a decline in the US dollar index and the rise in domestic markets. The US dollar was softened by the Trump administration stopping the tariffs on Mexico and Canada. However, China has retaliated and imposed import duty on US products.
In such a situation, it is expected that the rupee will trade with a negative trend due to uncertainty on the US trade tariff. Increasing the tariff war by China can affect the global risk sentiment, which can strengthen the US dollar and see the investors looking for a safe base. However, any intervention of the central bank can support the rupee. Trader Jolts can take hints from job opening and US factory order figures. This week, investors can adopt a cautious view before the RBI’s monetary policy meeting. The USDINR spot price is expected to trade within a radius of Rs 86.90 to Rs 87.40.
Today the market has also seen a profit in the market. The Nifty closed at the upper level of about 1 month. The Sensex-Nifty rose by more than 1.5 per cent. The midcap and smallcap index has closed with a good lead. Banking stocks also increased. The Nifty Bank index has closed up about 2 per cent. Except FMCG, all the sector index of BSE have climbed. Today the Sensex climbed 1,397 points to close at 78,584. The Nifty climbed 378 points to 23,739 and the Nifty Bank climbed 947 points to close at 50,158. The midcap climbed 825 points to close at 53,814. 25 out of 30 shares of Sensex rose. 41 out of 50 Nifty shares saw a rise. At the same time, 10 out of 12 shares of Nifty Bank increased.