Indian currency closed at all time low, rupee fell by so much against dollar

Today there has been a huge fall in the rupee. The rupee closed down by 35 paise against the dollar. After this fall, the rupee has reached an all-time low. The dollar has strengthened against other foreign currencies, due to which the Indian currency has declined.

Foreign fund outflows also weighed on the rupee, forex traders said.

Trade between dollar and rupee

Interbank opened weak at 83.28 compared to the Rupee Greenback in the Forex market, and finally closed at the lower level of 83.48 (provisional), which records 35 paise from the previous closure of 83.13. In the intraded business, the rupee reached the lower level of 83.52 compared to the US currency. Before the rupee had recorded its lowest closed level 83.40 on December 13, 2023.

According to the research analyst Anuj Chaudhary of BNP Paribiba

Due to weak euro and pounds. After the bank of England, interest rates also declined in pound after keeping unchanged at 5.25 percent. US strong economic data also supported US dollars. The Euro declined because the Swiss National Bank (SNB) surprised the markets by cutting 1.5 percent from 25 BPS in interest rates, which increased the chances of cutting rate by European Central Bank (ECB) in June 2024.

What is the condition of dollar index?

The dollar index, which shows the strength of the US currency against major currencies of the world, remains at 104.32 with an increase of 0.31 percent. Crude oil is again showing a rise today and it is down 0.05 percent at $ 85.74 per barrel.

How was the business in the Indian stock market?

The Sensex closed at 72,831.94, up 190.75 points or 0.26 per cent. Nifty rose 84.80 points or 0.39 percent to 22,096.75. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 1,826.97 crore on Thursday.