By Admin 
Rupee vs dollar: Despite the threat of US President Donald Trump’s US-India trade deal and increase the tariff limit on Indian goods to 50 percent, it has no effect on the rupee. Despite increasing business tension between Indo-US, decline in the stock market and heavy doubts in the mind of exporters on Friday, the rupee witnessed strength.
Indian rupee rise
According to Bloomberg’s report, the Indian rupee opened 15 paise to 87.56 during the early trade against the US dollar. A day before, the rupee closed on trading at 87.71. However, during this financial year, the rupee has devalled 2.45 percent. To keep the rupee stable by the RBI, steps like buying and selling dollars are being taken. On Thursday, the rupee remained between 87.66 and 87.77.
Heavy pressure on rupee
Anil Kumar Bhansali, Head of Treasury and Executive Director of Finrex Advisors LLP, says that there is a lot of pressure on the Indian rupee at this time, but due to the intervention of the central bank and the good performance of the Indian economy, its limited impact is being seen. He says that business talks, global economic status and domestic monetary policy directly affect the country’s currency.
The dollar measuring the US dollar strengthening against the six major currencies fell to 98.141, while it closed at 98.40 a day earlier. Significantly, business talks between America and India have failed so far. In the context of 50 percent tariff imposed on India for buying oil from Russia, President Donald Trump has refused to negotiate with India. Due to this, there has been more increase in business relations between the two countries.
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