Mumbai : For the last few days, the situation in the stock market and interbank foreign exchange market seems to be wavering. On Thursday, the rupee fell by 6 paise against the US dollar and reached its lowest level ever. Today the rupee has fallen by 6 paise and temporarily reached the level of 84.37. The continuous recession in the stock market and continuous withdrawal of foreign funds has affected the market and investor sentiments.
Forex traders said that investors are cautious even before the results of the US Federal Reserve meeting. Additionally, the rise in crude oil prices also put pressure on the local currency. However, he said a fall in the dollar index against major currencies helped the rupee and limited its losses.
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closed at all-time low
The rupee opened at 84.26 per dollar in the interbank foreign exchange market. After hovering between a high of 84.26 and a low of 84.38 during trading, it finally closed temporarily at 84.37 per dollar with a fall of 6 paise. On Wednesday, the rupee had fallen by 22 paise against the US dollar and closed at an all-time low of 84.31 per dollar.
trading with negative attitude
Anuj Chaudhary, research analyst at Sharekhan by BNP Paribas, has said that there is a possibility that the rupee will trade with a negative trend due to the overall strength of the US dollar due to the victory of Donald Trump in the US presidential election and the withdrawal of foreign institutional investors (FIIs). However, softening prices as geopolitical risks ease could support the rupee at lower levels.
sell shares at this price
Meanwhile, the dollar index, which reflects the strength of the dollar against six major currencies of the world, was trading at 104.86 with a weakness of 0.22 percent. Global oil benchmark Brent crude fell 0.32 percent to $74.68 per barrel. In the domestic stock market, the 30-share Sensex closed at 79,541.79 points with a fall of 836.34 points. Nifty fell 284.70 points and closed at 24,199.35 points. According to stock market data, foreign institutional investors i.e. FIIs were net sellers in the capital market. He sold shares worth Rs 4,445.59 crore on Wednesday.
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