By Admin 
Rupee vs Dollar: The Indian rupee has seen the biggest decline in the last two weeks. Due to increasing demand for dollars from importers at the end of the month and rise in global crude oil prices, the rupee weakened by 21 paise to 88.18 per dollar in early trade on Tuesday.
Reason for fall in rupee
This is the biggest one-day fall in the rupee since October 14. However, market experts believe that due to the possible intervention of the Reserve Bank (RBI), some improvement may be seen in the coming days. Traders say that dollar selling by RBI helped the rupee to a great extent and it is trading in a limited range.
In the Interbank Foreign Exchange Market, the rupee opened at 88.34 per dollar and later slipped to 88.40. This shows a weakness of 21 paise from the previous closing price. On Monday also, the rupee fell by 36 paise and closed at 88.19 per dollar. Meanwhile, the dollar index, indicating the strength of the US dollar, fell 0.12% to 98.66 against six major global currencies.
Impact on stock market also
There were also ups and downs in the domestic stock markets. BSE Sensex had gained 125.93 points in early trade to reach 84,904.77 points, but in afternoon trade it recorded a decline of about 400 points. At the same time, NSE Nifty 50 also slipped below 25,900 after the initial gain.
In the international market, there was a slight increase of 0.02% in Brent crude and it was trading at $ 65.63 per barrel. At the same time, according to stock market data, foreign institutional investors (FIIs) were in a selling mood on Monday and made a net sale of shares worth a total of Rs 55.58 crore.
Also read: Gold prices continuously falling since Dhanteras, know the price in your city today on 28th October