By Admin 
Rupee vs Dollar: There is continuous weakness in the Indian Rupee. Amid global geopolitical tension, the rupee fell five paise to 90.22 against the US dollar in early trade on Tuesday, the second trading day of the week. The domestic currency remained under pressure due to strong trend of dollar, rise in crude oil prices and continuous withdrawal of foreign capital.
In the interbank foreign exchange market, the rupee opened at 90.24 per dollar and with a slight improvement in early trade reached the level of 90.22, which shows a weakness of five paise from the previous closing price. The rupee had closed at 90.17 against the dollar on Monday.
Reason for fall in rupee
The dollar index, which reflects the dollar’s position against six major currencies, stood at 98.73 with a rise of 0.11 percent. However, strength was seen in the domestic stock market. In early trade, Sensex rose by 125.96 points or 0.15 percent to reach 84,004.13 points, while Nifty was seen trading at 25,837.50 points with a gain of 47.25 points or 0.18 percent.
Expert opinion
Anuj Chaudhary, Research Analyst, Mirae Asset Sharekhan, said that due to increasing risk aversion in global markets and geopolitical tensions, the rupee opened with weakness, although some improvement was seen due to the rise in domestic stock markets. He said that the eyes of investors and businessmen are now fixed on the inflation figures of India and America. According to him, the range of rupee against dollar can remain between 89.90 to 90.60.
Meanwhile, the price of Brent crude in the international market increased by 0.28 percent to $ 64.05 per barrel. According to stock market data, foreign institutional investors (FIIs) were seen selling on Monday and sold shares worth a net Rs 3,638.40 crore.
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