Posted by Rupee Dollar Rate: Today the rupee has recovered a bit against the dollar and it is showing strength. Today, the rupee is trading 20 paise above yesterday’s level against the dollar.
Rupee Dollar Rate: The rupee seems to be trading with a slight rise today and after yesterday’s record fall, it is registering a slight improvement today. On Tuesday, the rupee appreciated 20 paise, to 77.24 against the dollar. Today, the stock markets are witnessing a good rally, which is also having an impact on the trading of the rupee.
Yesterday, the rupee touched a record low.
Today, the impact of the fall in global crude prices has also come on the dollar and it has strengthened the rupee a bit. In yesterday’s trade, the rupee had depreciated 60 paise, to 77.50 against the dollar. However, today there is some improvement in it.
The rupee depreciates 115 paise in two trading sessions
The rupee had fallen to a sharp low of 77.52 against the dollar in yesterday’s trade and fell by 62 paise during intraday trading, with the rupee depreciating 115 paise in the last two trading sessions based on yesterday’s session.
Why is the rupee coming down?
The rupee is currently falling due to global concerns as well as domestic reasons. The fall in the stock markets is not only behind this, the continued selling by foreign funds amid the global trend of an interest rate hike has also put pressure on the rupee. With crude oil becoming costlier and the dollar strengthening against other currencies, the rupee is looking at weakness.