By Admin 
Rupee vs Dollar: This year, the Indian rupee has seen a lot of fluctuations and due to various reasons like tariff concerns, global uncertainties, withdrawal of foreign capital and strengthening of the dollar, it had seen a big decline, even the rupee had crossed the level of 91, but after this, due to the active intervention of the Reserve Bank of India (RBI) and steps to increase liquidity in the market, the rupee has started showing strength again.
Rupee strengthened
The rupee strengthened by 12 paise to 89.51 against the US dollar in early trade on Wednesday. According to forex traders, the rupee received strong support from the RBI’s announcement of providing adequate liquidity of about Rs 3 lakh crore to the market, which boosted investor confidence. In the interbank foreign exchange market, the rupee opened at 89.56 and within a short time reached 89.51, which shows a strengthening of 12 paise from the previous closing level.
During trading, the rupee even went up to 89.65 at one point, whereas on Tuesday it had closed at 89.63. Meanwhile, the dollar index, which shows the strength of the dollar against six major currencies, fell by 0.07 percent to 97.87, which provided some relief to the emerging market currencies.
stock market boom
Positive trends were also seen in the domestic stock market, where Sensex rose by 63.82 points to 85,588.66 in early trade and Nifty rose by 32.80 points to reach 26,209.95.
In the international market, Brent crude was also seen trading at $ 62.39 per barrel with a slight gain of 0.02 percent with almost stable trend. However, despite this, foreign institutional investors (FIIs) were net sellers on Tuesday and sold shares worth Rs 1,794.80 crore, indicating that despite the strengthening of the rupee and the stock market, foreign investors are currently adopting a cautious approach.