By Admin 
Indian Rupee vs Dollar: On Tuesday, March 24, the second trading day of the week, the Indian rupee had a positive start. The rupee opened slightly stronger against the US dollar. However, in the last session the rupee had reached its all-time low of 93.98.
The US President’s latest statement on the dispute in the Middle East has supported the rupee. Trump has indicated to postpone possible action on Iran’s energy infrastructure for the time being.
He had also expressed the possibility of talks. In early trade, the Indian currency was trading around the level of 93.64. Let us know about this..
Investors are betting cautiously
Despite the recent rise in the market, investor confidence has not fully returned. Experts believe that the news of war being postponed has brought some relief, but uncertainty still remains. Therefore investors are proceeding cautiously.
On Monday, there was a decline of about 0.37 percent in the rupee and it had crossed 93.95. However, today some improvement has been seen in it. Despite this, market experts say that until there are clear signs of the situation becoming completely normal, it would be too early to expect a strong recovery in the rupee against the dollar.
RBI can take steps
Market experts believe that if pressure on the rupee increases, the Reserve Bank of India may intervene in this matter. Usually RBI tries to support the rupee by selling dollars from its foreign exchange reserves so that the fall does not increase much.
Although the current global situation still remains uncertain, experts estimate that the rupee may remain under pressure for the time being and it may take time for it to gain significant strength.
Due to these reasons pressure on rupee
Experts are saying that the reasons behind the pressure of Indian currency against the dollar are global uncertainty, rise in crude oil prices etc. There is continuous pressure on crude oil prices due to the ongoing dispute in the Middle East.
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