By Admin 
Rupee vs Dollar: Due to uncertainty regarding the India-US trade agreement and continuous withdrawal of foreign capital, pressure on the Indian rupee was clearly visible in early trading on Monday. After this, it fell by nine paise and reached its lowest ever level of 90.58 against the US dollar.
According to foreign exchange market experts, investors are waiting for some concrete signal related to the India-US trade deal, due to which the market remains cautious and the rupee continues to trend weak. In the interbank foreign exchange market, the rupee opened at 90.53 per dollar, but within some time it slipped to the level of 90.58, which shows a decline of nine paise compared to the previous closing price.
Why the fall in rupee?
Earlier on Friday also, the rupee fell by 17 paise and closed at an all-time low of 90.49 per dollar. Meanwhile, the dollar remained a bit soft globally and the dollar index, which reflects the dollar’s strength against six major currencies, declined by 0.05 percent to 98.35.
Pressure was also seen in the domestic stock markets, where in early trade, BSE Sensex fell by 298.86 points to 84,968.80 points, while NSE Nifty slipped by 121.40 points and was seen trading at the level of 25,925.55. There was a slight rise in the prices of crude oil in the international market and Brent crude rose by 0.52 percent to reach $ 61.44 per barrel, which can cause additional pressure for an oil importing country like India.
heavy pressure on rupee
According to stock market data, foreign institutional investors remained sellers on Friday as well and sold shares worth a net Rs 1,114.22 crore, showing deepening pressure not only on the equity market but also on the rupee.
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