No one had thought that the rupee would be in such a bad condition after Christmas. Due to less influence of RBI in the currency market, increase in crude oil prices, selling by foreign investors, increase in demand for dollar and delay in trade deal with America, there has been a big fall in the rupee on Friday. The value of rupee against one dollar has once again reached near the level of 90. According to experts, there is a lot of pressure on the rupee. In such a situation, the rupee may even cross the level of Rs 90 during the trading session. Let us also tell you at what level the rupee can be seen trading against the dollar.

Big fall in rupee

The rupee fell 23 paise to 89.94 against the US dollar in early trade on Friday. Withdrawal of foreign investment and rise in crude oil prices had an impact on this. Foreign currency traders say that the negative trend in domestic stock markets, increase in dollar demand from importers, and concerns over trade deals further weakened investor confidence. At the Interbank Foreign Currency Exchange market, the rupee opened at 89.84 against the dollar, but later declined and was trading at 89.94, 23 paise lower than its previous close. On Wednesday, the rupee lost early gains and ended the day down eight paise at 89.71 against the US dollar. This means that the rupee is falling for the second consecutive trading day. The currency market and stock market were closed on Thursday due to Christmas.

Understand from the data why the rupee declined

1. Meanwhile, the dollar index, which gauges the dollar's strength against six currencies, was trading 0.08 percent lower at 97.89.
2. In the international market, Brent crude oil of Gulf countries was trading 0.16 percent higher at US $ 62.34 per barrel in futures trade.
3. Talking about the domestic stock market, the 30-share index Sensex fell 183.42 points to 85,225.28 in early trade, while Nifty fell 46.45 points to 26,095.65.
4. According to exchange data, foreign institutional investors invested Rs 1,721.26 crore on Wednesday. The special thing is that in the month of December, foreign investors have withdrawn Rs 13,177 crore from the stock market.

What are the experts saying?

Anil Kumar Bhansali, treasury head and executive director, Finrex Treasury Advisors LLP, said that after strengthening to 89.00 levels last week, the rupee has started weakening again due to less trading during holidays as FPIs continue to sell equities and buy dollars after a brief pause. According to experts, the demand for dollars increases at the end of the month. On the other hand, the rupee remains a victim of weakness due to the rise in crude oil prices.