By Admin 
Rupee vs dollar: The meeting of the three -day monetary committee of the Reserve Bank has started from Monday, in which an important decision can be taken regarding the repo rate cut. Amidst the efforts of the government trying to speed up the economy, this meeting has been eyeing the country. On the other hand, the Asian currency and Indian currency are being strengthened in the Overseas Market amid weakness in US dollars.
Rupee strengthening
Forex traders say that there is a pressure on Indian currency due to continuous selling and geopolitical tension from foreign institutional investors. In the International Foreign Exchange Market, the rupee gained 3 paise against the dollar at 88.69.
Earlier, on Friday, the rupee had risen 4 paise from the all -time low level to close at 88.72 compared to the US dollar. On Thursday, the rupee fell against the US dollar to reach the level of 88.76 again.
RBI’s steps to save money
Anil Kumar Bhansali, Head of Treasury and Executive Director of Finrex Treasury Advisors LLP, says that the market is closely monitored amidst the pressure on the currency due to American tariffs and foreign institutional investors selling from the currency and RBI will try to maintain the rupee in the limits of 88.80 against the dollar.
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