By Admin 
Dollar vs Rupee: The Indian Rupee is going through a continuous decline and is now trading near its historical low. On Tuesday (October 14), the second trading day of the week, the rupee weakened by 9 paise against the US dollar in the opening session to reach 88.77 per dollar. The strengthening of the American currency in foreign markets and withdrawal of foreign capital has increased the pressure on the rupee.
Why the fall in rupee?
According to foreign exchange traders, risk-off sentiment at the global level and fading expectations regarding India-US trade talks are the main reasons for the rupee’s weakness. In the interbank foreign exchange market, the rupee opened at 88.73 per dollar and within a short time fell to 88.77 per dollar, which shows a decline of 9 paise from the previous closing price (88.68).
According to Anuj Choudhary, currency and commodity research analyst at Mirae Asset Sharekhan, closure of some government departments due to financing problems in the US and increasing chances of interest rate cuts by the US Federal Reserve may provide some support to the rupee. However, the new tariff war between US and China and risk aversion in global markets may put a halt to the strengthening of the rupee.
stock market boom
Despite the weakness of the rupee, there was a rise in early trading in the domestic stock markets. BSE Sensex rose 246.32 points to 82,573.37, while NSE Nifty 50 opened 83 points higher at 25,310.35.
Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, fell 0.07 per cent to 99.19. At the same time, the international standard Brent crude oil remained at the price of $ 63.55 per barrel with an increase of 0.36 percent. According to stock market data, foreign institutional investors (FIIs) remained sellers on Monday. They sold shares worth a net Rs 240.10 crore, which increased further pressure on the rupee.
Also read: Before Diwali, the shine of gold increased the tension, price crossed Rs 1.25 lakh, know the latest rate of your city on 14th October.