Dollar index The rupee closed at 85.25 (temporary) levels against the US dollar on Friday, amidst a sharp decline and a boom in the Indian stock market. With this, the process of falling in the rupee for three days against the US dollar has come to an end today. Forex traders said that the rupee closed with significant lead on Friday after a decline of 53 paise in the last 3 sessions. The weak trend of American currency in the foreign market had a positive impact on the rupee. However, a slight improvement in crude oil prices and the selling of foreign institutional investors (FIIS) limited the lead of Indian currency.
Rupee closed 36 paise against US dollar on Thursday
The Interbank Foreign Exchange Market saw a huge ups and downs in the rupee. It opened at 85.95 and then touched the upper level of 85.11 and a low of 86.10 against the US dollar. At the end of the trading, the rupee closed at 85.25 (temporary), which is 70 paise more than the previous closed price. On Thursday, the rupee closed at 85.95 against the US dollar at 85.95. Research analyst Anuj Chaudhary of Mirae Asset Sharekhan said, “We hope that the rupee will trade with a positive attitude with a positive attitude due to improving the weakened trend and risk of risk in the US dollar index.” However, due to selling from foreign investors, the speed of boom may stop. ‘
Brent crude closed 0.22 percent in futures trading
Anuj Chaudhary said that businessmen can take hints from the sale of houses in the US. In the spot market, the rupee is expected to trade in the range of 85 to 85.70 per dollar. Meanwhile, the dollar index, which described the US dollar status against the 6 major currency, fell 0.60 percent to 99.36. Global oil standard Brent crude fell by 0.22 percent in crude futures to $ 64.30 per barrel. According to the stock market data, foreign institutional investors purely withdrew money by selling shares worth Rs 5045.36 crore.
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