By Admin 
Rupee vs Dollar: The Indian rupee also witnessed weakness on Monday amidst the sixth consecutive trading day of decline in the stock market. In early trade, the rupee fell by five paise and reached the level of 90.23 against the US dollar. There is pressure on the domestic currency due to the rise in crude oil prices in the international market and continuous withdrawal of foreign capital. Apart from this, the ongoing geopolitical uncertainty at the global level and fears of the US imposing additional duties on Indian exports have also increased the concern of investors.
Rupee falls again
According to Forex traders, due to these factors, foreign institutional investors (FIIs) are selling in the Indian stock market, while investors are adopting a cautious approach ahead of the key macroeconomic data coming this week. In the interbank foreign exchange market, the rupee opened at 90.23 per dollar, which was five paise less than the previous closing price.
On Friday, the rupee fell by 28 paise and closed at 90.18 per dollar. During this period, the dollar index, which shows the strength of the dollar against six major global currencies, declined by 0.14 percent to 98.75.
stock market slipped
There was a weak trend in the domestic stock market also. Sensex fell 356.49 points to 83,219.75 in early trade, while Nifty slipped 94.90 points to 25,588.40. In the international market, Brent crude was seen trading at $ 63.44 per barrel with a gain of 0.13 percent. According to stock market data, on Friday, foreign institutional investors sold shares worth a net Rs 3,769.31 crore, increasing pressure on both the market and the rupee.
According to market experts, at this time there are many global and domestic factors which seem to have a direct impact on the Indian rupee. Internationally, the geopolitical situation related to Venezuela and Iran, as well as possible actions by US President Donald Trump regarding Greenland, have increased uncertainty in global markets, which is also impacting the currencies of emerging economies. Apart from this, data released by the Reserve Bank of India (RBI) on January 9 has indicated that the country’s foreign exchange reserves have decreased. India’s foreign exchange reserves declined by $9.809 billion to $686.801 billion in the week ending January 2, due to which the pressure on the rupee is expected to increase further.
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