By Admin 
Dollar vs Rupee: The rupee, which was facing a continuous decline, saw improvement on the last trading day of this week i.e. Friday. Indian currency showed strength in early trade due to softening of crude oil prices and weak trend of US dollar. The rupee gained 5 paise and reached the level of 88.64 against the dollar.
According to forex traders, selling pressure in stock markets and foreign capital outflows, however, limited the rupee’s gains. In the interbank foreign exchange market, the rupee opened at 88.60 per dollar and rose slightly to 88.59 per dollar in the initial session. However, it soon settled at 88.64, which shows a rise of 5 paise from the previous closing price.
Rupee in high spirits after breaking down
On Thursday, pressure was seen on the Indian currency and it fell by 47 paise and closed at 88.69 per dollar. Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, fell marginally by 0.02 per cent to 99.33.
A slight rise was also seen in the domestic stock markets today. BSE Sensex rose 192.31 points or 0.23 per cent to 84,596.77 in early trade, while NSE Nifty was up 42.05 points or 0.16 per cent at 25,919.90.
Rupee broke a day ago
There was also a softening in the prices of Brent crude in the international market, which declined by 0.68 percent to $ 64.56 per barrel. However, foreign institutional investors (FIIs) remained in a selling mood in the market on Thursday and sold shares worth a net Rs 3,077.59 crore.
Overall, this slight strengthening of the rupee has come due to the falling oil prices in the international market and the weak dollar, but the withdrawal of foreign capital and the volatility of the stock markets are still under pressure on the rupee.
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