By Admin 
Rupee vs Dollar: The impact of the fear of increasing geopolitical tension between America and Iran was clearly visible on the Indian rupee. On Friday, the last trading day of the week, the rupee fell by 27 paise in early trade to reach 90.95 per dollar. Strong US currency and rising crude oil prices put pressure on the rupee. In the interbank foreign exchange market, the rupee opened at 90.94 and fell to 90.95 per dollar, which shows a weakness of 27 paise compared to the previous closing price of 90.68.
Why is the rupee falling?
Currency markets were closed on Thursday due to Chhatrapati Shivaji Maharaj Jayanti. Meanwhile, the dollar index showing the strength of the dollar remained with a slight rise around 97.89. Weakness was also seen in the domestic stock market. BSE Sensex fell by about 150 points to 82,347 and NIFTY 50 slipped by 35 points to 25,419.
In the international market, Brent Crude increased by 0.14 percent to $ 71.77 per barrel, which increased the pressure for India being an importing country. According to stock market data, foreign institutional investors (FIIs) were sellers on Thursday and sold shares worth Rs 880.49 crore.
What do experts say?
According to Anil Kumar Bhansali, Treasury Head, Finrex Treasury Advisors LLP, the fall of the rupee remained limited due to the efforts of the Reserve Bank of India to maintain the availability of dollars. He said that there is a possibility of some improvement in the dollar index after the recent decline, as strong US economic growth and interest from foreign investors are supporting the dollar. Overall, a stronger dollar, higher crude oil prices and selling by foreign investors have weakened the rupee, while RBI’s caution has tried to keep the fall under control.
Also read: Crude oil boiling in the heat of America-Iran war, know what is the price of petrol and diesel in your city today?