By Admin 
Indian Rupee vs US Dollar: The Indian rupee continues to fall amid high US tariffs and stock market fluctuations. Weakness was also seen in the Indian currency on Thursday, the fifth trading day of the week. After limited range fluctuations in early trade, the rupee fell by three paise to 88.78 per dollar.
Forex traders say that, however, the positive trend in the domestic stock markets gave some support to the rupee at lower levels. In the interbank foreign exchange market, the rupee opened at 88.76 per dollar and then fell to 88.78 per dollar, showing a decline of three paise compared to the previous closing price of 88.75. On Wednesday, the rupee had closed at 88.75 against the dollar.
Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, declined by 0.20 per cent to 98.72. In the domestic stock markets, BSE Sensex rose by 201.23 points to 81,974.89 points in early trade while NSE Nifty 50 also rose by 63.5 points to reach 25,109.65 points.
Indian rupee continues to fall
International crude oil prices also softened. Brent crude declined by 0.50 percent to reach $65.91 per barrel. According to stock market data, foreign institutional investors (FIIs) remained buyers on Wednesday and bought shares worth a net Rs 81.21 crore.
Traders said that the main reason for the fall in the rupee is the rejection of both the Democratic and Republican proposals presented in the US Senate to finance the government. Due to this disagreement, the shutdown crisis in America continues for the sixth day, due to which investors have adopted a cautious attitude.
What is the reason?
Meanwhile, Commerce and Industry Minister Piyush Goyal said that the proposed bilateral trade agreement between India and the US is under ongoing negotiations and is likely to be completed by November. This comment of Goyal was made by Foreign Minister S. This comes a day after Jaishankar’s statement in which he had said that New Delhi’s ‘Lakshman Rekha’ should be respected in any trade agreement between India and the US and efforts are on towards a balanced agreement.
Overall, the rupee remains under pressure due to US tariffs, political uncertainty and global risk perception. However, due to strength in domestic markets and buying by foreign investors, the rupee is expected to remain stable in a limited range in the near future.
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