Indian currency gained shine due to rise in stock market, Rupee increased by so much against dollar
Dollar Vs Rupee: The rise in the stock market affects the Indian currency. Today the stock market opened with gains. The stock market will remain closed on the occasion of Diwali Balipratipada. Today the rupee opened with an increase of 32 paise against the dollar. Whereas the dollar was trading with a slight rise in the dollar index. Read the full news...
The rupee opened with gains against the American currency in the trading session on Wednesday. A slight rise was seen in the US dollar on Wednesday. This is because the US inflation rate has not been as good as expected.
Forex traders say that the rise in the Indian currency has come due to the slight rise in the dollar due to the US inflation rate.
Apart from this, the ongoing rise in the stock market has also boosted investors.
Today the rupee opened at 83.03 in the foreign exchange market. This represents an increase of 32 paise. At the same time, on Monday, the rupee closed at the lowest level of 83.33 after falling by 5 paise.
On Tuesday, on the occasion of Diwali Balipratipada, both Forex and stock exchanges were closed.
Amit Pabari, MD, R Forex Advisors, said, "From its all-time low last week amid systemic upset, the rupee is trading near a two-month high of 83.00. A breakdown below 82.95 could push the pair higher in the coming sessions. "Will push it to 82.80 and 82.50 levels."
The dollar index shows the strength of the 6 currencies of the world. In this, the dollar has reached 82.76 per dollar with a slight increase of 0.02. At the same time, Brent crude has increased by 0.35 percent to $ 82.76 per barrel.
Today the stock market is trading with gains. Sensex has gained 598.53 points to 65,532.40 points and Nifty has gained 184.85 points to 19,628.40 points. According to exchange data, foreign investors sold shares worth Rs 1,244.44 crore on Monday.
