After a fall of rupee against the dollar in four consecutive business days, it seemed that the rupee would see a decline in the rupee on the last day of the week. But this did not happen. The rupee retaliated on the dollar in the currency market that China's yuan kept watching and the US government was also scared. The rupee saw a rise of 51 paise in the initial trading session on Friday. If we look at the data, after February 11, the rupee is the biggest rise in any business day. According to experts, the fall in crude oil prices in the international market and the tariff taken by Trump for 90 days is being seen. In the coming days, the rupee can be seen even more.
Earlier, in the currency market, there was a big decline in the rupee against the dollar in four consecutive days. The rupee was broken by about 140 paise i.e. about one and a half percent. Due to which the level of the rupee went beyond 86.60. But on Friday, the rupee rose 51 paise to 86.17 against the US dollar in early trade on Friday. Let us also tell you that at which level the rupee is trading in the currency market and what kind of figures are being seen.
The Interbank Foreign Currency Exchange Market opened at 86.22 against the rupee to 86.22, which was 46 paise above the previous bandh, and then reached 86.17. The rupee closed at 86.68 against the dollar on Wednesday. Equity, foreign currency markets remained closed on Thursday to commemorate Shri Mahavir Jayanti. Earlier on Wednesday, the rupee was seen to fall to 50 paise, 32 and 14 paise before 45 paise. Nobody expected that on Friday, the rupee would take up the money in the currency market. But the continuous decline in the dollar index and the cut in crude oil prices supported the rupee. The decision to withdraw the tariff for 90 days of Trump's right cancer.
Anil Kumar Bhansali, Treasury Head and Executive Director of Finarex Treasury Advisors LLP, said that the rupee is expected to go above 86 with the dollar index coming below the September low of September 100.20, and it is expected to fall to a level of 95. Good boom has allowed exporters to cover their export holding and any speed should be used for further cover due to the risk avoiding the risk. He said that the rupee is likely to do business within the radius of 86.00-86.60 during the day.
Meanwhile, the dollar index, which measures the strength of greenback compared to the basket of six currencies, was trading at 100.04 with a decline of 0.81 percent. Bhansali said that on Friday, the dollar index came to a low -lying level against Swiss Frank, as investors abandoned American assets for the benefit of safe bases like Frank and Yen, Euro and Gold due to low confidence in the US economy. In the international market, Brent crude oil fell 0.27 fees to $ 63.16 per barrel. The 30 -share BSE Sensex in the domestic stock market rose 1,204.02 points or 1.63 percent to 75,051.17 points, while the Nifty rose 385.25 points or 1.72 percent to 22,784.40 points. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 4,358.02 crore on a pure basis on Wednesday.
