Dollar vs Rupee: Rupee weakened against dollar, declined by 8 paise

Indian Rupee vs Dollar: On the last day of the trading week, the rupee is looking weak against the dollar. The rupee remained flat at 82.68 against the US currency in early trade. The rupee had closed at 82.60 in Thursday's session. Due to the rise in crude oil prices, the rupee is depreciating. 

Jul 7, 2023 - 11:01
Dollar vs Rupee: Rupee weakened against dollar, declined by 8 paise

Weakness is being seen in the Indian stock market. The rupee is trading 8 paise lower against the US dollar in early trade on Friday amid rising crude oil prices. Now the rupee has come down to 82.68. However, foreign fund inflows supported the rupee and restricted the fall.
At the Interbank Foreign Exchange, the domestic unit opened at 82.68, registering a decline of 8 paise over its previous close. Besides this, rising crude oil prices also weighed on the rupee.
Forex traders said that all eyes are on the tight monetary policy of the US Federal Reserve. In this, due to rising expectations of interest rates, the dollar remains strong. The dollar index, which consists of six currencies. The strength of the greenback can be gauged against the dollar index. The dollar fell 0.04 percent to 103.12.
Global oil benchmark Brent crude futures rose 0.29 percent to USD 76.74 per barrel. Foreign institutional investors (FIIs) were the biggest buyers in the capital market on Thursday, according to exchange data. He bought shares worth Rs 2,641.05 crore.
On the last day of the trading week, both indices are trading with a decline in the stock market. The BSE Sensex was trading 47.47 points or 0.07 percent lower at 65,738.17. At the same time, the NSE Nifty fell 18.40 points or 0.09 percent to 19,478.90.

Muskan Kumawat Journalist & Writer