By Admin 
Dollar vs Rupee: Despite the strength in the Indian stock market, the rupee remains under downward pressure. After registering its biggest single-day fall in three years last Friday, this week may have seen a slight recovery, but the weakness is back again. The rupee fell 7 paise to 89.43 per dollar early on November 28.
The rising prices of crude oil in the international market and the strengthening of the US dollar have weakened the rupee. The rupee opened at 89.41 per dollar at the interbank foreign exchange market, and slipped further to 89.43 per dollar in early trade. This shows a decline of 7 paise compared to the previous closing price. A day before this, the rupee had fallen by 14 paise and closed at 89.36 per dollar. Meanwhile, the Dollar Index also rose by 0.04% to reach 99.56, thereby maintaining the strong global position of the Dollar.
pressure on rupee
Jatin Trivedi, Vice President, Commodity and Currency Research Department, LKP Securities, has drawn a concise but clear picture on the current situation of the rupee. According to him, the rupee is still weak, even though the stock indices at the top of the market are hovering near all-time highs.
This glow of the stock market gives support to the rupee for a moment – like a light gust of wind keeps a tired leaf floating for a while before falling. Nevertheless, due to external pressures and the strength of the dollar, the direction remains the same: towards weakness. According to Trivedi, the rupee is likely to swing between 88.75 to 89.55 in the next few sessions.
stock market boom
The domestic markets continue to be bright. BSE Sensex rose 91.01 points to 85,811.39 in early trade, while Nifty 50 also opened with a slight gain of 18.85 points at 26,234.55. International Brent crude also registered an increase of 0.41% and reached $ 63.60 per barrel.
According to stock market data, FIIs were selling on Thursday. He made a net sale of shares worth Rs 1,255.20 crore, the impact of which was also visible on the sentiment of the rupee.
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