Relief on the rupee front, after reaching a record low, today saw a rise

rupee: The rupee gained 34 paise to close at 82.47 (provisional) against the US currency. The rupee opened at 82.15 in the interbank foreign exchange market and later touched a high of 82.14 and a low of 82.51.

Relief on the rupee front, after reaching a record low, today saw a rise

The rupee gained 34 paise to close at 82.47 (provisional) per dollar.

The rupee on Thursday gained 34 paise to close at 82.47 (provisional) against the US currency at the interbank foreign exchange market as the dollar fell below its all-time high. The rupee opened at 82.15 in the interbank foreign exchange market and later touched a high of 82.14 and a low of 82.51. At the end of trading, it has strengthened by 34 paise against its previous closing price and closed at 82.47 per dollar.

In the previous trading session, the rupee had gained seven paise to close at 82.81 per dollar. The foreign exchange markets were closed on Wednesday on the occasion of Diwali Balipratipada. The dollar index, which measures the strength of the dollar against the world’s six major currencies, was up 0.36 percent at 110.09. On the other hand, the 30-share BSE Sensex closed at 59,756.84 points, up 212.88 points. Apart from this, international oil standard Brent crude futures fell 0.06 percent to $ 95.63 per barrel.

According to stock market data, foreign institutional investors have been net sellers in the capital market. He sold shares worth Rs 247.01 crore on Tuesday.

What happens to you and us?

The impact of rupee depreciation can be seen in common life. This is also being seen in the form of the inflation rate in recent times. The weakening of the rupee reduces the effect of any shortage in the imported commodity from the international market. In such a situation, it will take more time to get the benefit of the fall in crude oil because the depreciation of the rupee in the midst of a fall in prices will increase the import bill and this will continue to burden the exchequer. Right now there is a decline in crude oil in the foreign markets, but due to the weakening of the rupee, the common people are not getting its benefit.

The common man gets the benefit when the commodity prices fall in the world markets and the rupee becomes stronger against the dollar. Common people get relief on the inflation front only when the commodity prices fall in the global market and the rupee strengthens. However, seeing the recent declines, there is no possibility of strengthening the rupee so soon. The rupee has been trading at a lower level against the dollar for several consecutive days.

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