By Admin 
Dollar vs rupee: After Trump’s high tariff on India, there has been a big decline in the Indian rupee in recent times. In such a situation, now the RBI is expected to support the rupee only. The continuous withdrawal of foreign capital has negatively affected the notion of investors. As a result, the rupee fell by about 17 paise to 88.26 against the dollar on Monday, the first trading day of the week.
Lowest level so far
Last week, on Friday, the rupee crossed 88 and closed at 88.09. At the same time, the dollar index measured by 0.07 percent declined at 97.70 against the six major currency.
Rupee broken, market climbed
Despite the historical decline in the rupee, the stock market witnessed a rise on Monday. In early trade, the Sensex rose by 343.46 points to 80,153.11, while the Nifty was trading at 24,532.65 with a gain of 105.8 points. International standard Brent crude also rose 0.41 percent to $ 67.20 per barrel. According to the stock market data, foreign institutional investors (FII) had purely sold shares worth Rs 8,312.66 crore on Friday.
Why did the upheaval come?
The decline of the rupee and the biggest reason for the upheaval in the market is the high tariff of US President Donald Trump. Due to buying oil from Russia, Trump has imposed an additional 25 percent tariff on India, due to which the total tariff rates have reached 50 percent. Trump’s strategy is part of the attempt to pressurize Russia, but he has not got any special success yet.
India is working on two fronts to withstand this shock – on the one hand the government has announced GST reforms, on the other hand, by strengthening relations with Russia and China, they have intensified efforts to find alternative trading avenues.
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