By Admin 
Dollar vs Rupee: The effect of increasing tension in West Asia is now clearly visible on India’s economy and currency market. Amid fears of war, the Indian rupee remains under constant pressure and has reached a new low against the US dollar. On Friday, at the beginning of the last trading day of the week, the Indian rupee fell by 12 paise to reach a record low of 92.37 per dollar despite the efforts of the Reserve Bank of India (RBI).
In the Interbank Forex Market, the rupee opened at 92.33 per dollar and later fell to 92.37, showing a decline of 12 paise from the previous closing price. A day earlier i.e. on Thursday also, weakness in the rupee was seen. During trading that day it fell to the level of 92.36 per dollar and finally fell by 24 paise to close at 92.25 per dollar.
Why is the rupee falling?
According to experts, there is uncertainty in the global energy market due to the ongoing conflict in West Asia and there are no signs of softening in crude oil prices. This has weakened investor sentiment. Apart from this, many other reasons are also putting pressure on the rupee:
- US dollar strength
- Heavy selling by foreign investors
- Weakness in domestic stock market
Meanwhile, the US Dollar Index, which shows the position of the dollar against six major currencies, increased by 0.04 percent to 99.77.
Pressure in stock market also
Negative atmosphere was also seen in the domestic stock market. BSE Sensex fell 560.06 points or 0.74% to 75,474.36 in early trade. Whereas Nifty 50 slipped 184.45 points or 0.78% to 23,454.70. On the other hand, the price of Brent Crude in the international market increased by 4.99 percent to $ 96.57 per barrel.
According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 7,049.87 crore on Thursday, which increased the pressure on both the market and the rupee.
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