By Admin 
Rupee vs Dollar: The biggest ever fall in the Indian Rupee has been witnessed amid the presentation of the Economic Survey in the Parliament just before the Union Budget. In early trade on Thursday, the rupee fell to 92.00 against the US dollar, which is its historical low. There is pressure on the domestic currency due to the continued strong demand for the dollar and the cautious environment at the global level.
Why such a huge fall in the rupee?
According to forex traders, increasing geopolitical uncertainties have increased risk aversion among investors, which is having a direct impact on the currencies of emerging markets. The rupee opened at 91.95 per dollar in the interbank forex market and slipped to 92 at the end of the month due to increased demand for the dollar.
A day before this, on Wednesday also, the rupee had fallen by 31 paise and closed at the level of 91.99, whereas on January 23, it had reached the level of 92 for the first time. During this period, the dollar index, which shows the strength of the dollar against six major global currencies, fell by 0.29 percent to 96.16.
Stock market fell with a bang
Weakness was also seen in the domestic stock market, where Sensex fell 343.67 points to 82,001.01 and Nifty slipped 94.2 points to 25,248.55 in early trade. In the international market, the price of Brent crude increased by 1.32 percent to $ 69.30 per barrel. However, according to stock market data, foreign institutional investors (FIIs) remained buyers on Wednesday and bought shares worth a net Rs 480.26 crore.
Analysts said the rupee had started higher amid weakness in the dollar index, but fell to its lowest level at the end of the month due to demand for the dollar and poor investor sentiment.
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