Indian The condition of the currency is worsening day by day. The Indian rupee fell 20 paise to an all-time low of 96.90 per dollar in early trade on Wednesday. Due to the increasing tension between Iran and America, the domestic currency is under increasing pressure due to the strengthening of the dollar and high prices of crude oil. Forex traders said that withdrawal of foreign capital and fall in domestic stock markets are also putting pressure on the rupee. In the interbank foreign currency market, the rupee opened at 96.89 against the US dollar. After the commencement of trading, the rupee depreciated further and settled at 96.90 per dollar, which was 20 paise less than the previous closing price.
Rupee closed down for the 8th consecutive day on Tuesday
Let us tell you that on Tuesday, the Indian rupee declined for the 8th consecutive day and it closed at a new all-time low of 96.70 per dollar with a loss of 50 paise. Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, stood at 99.26, up 0.01 per cent. Kedia Advisory Director Ajay Kedia said that on Wednesday the US Dollar Index was around 99.4 and with this it reached its highest level in 6 weeks.
decline in domestic stock market
On Wednesday, in the domestic stock markets, in early trade, Sensex fell by 517.11 points to 74,667.51 points while Nifty slipped by 152.45 points to reach 23,475.80 points. The price of international standard Brent crude fell by 0.35 percent to $ 110.59 per barrel. According to stock market data, foreign institutional investors (FIIs) were net sellers on Tuesday and sold shares worth Rs 2,457.49 crore.
America may start attacking Iran again in the next 2-3 days
Ajay Kedia said that due to increasing tension between America and Iran, inflation concerns have increased in the markets around the world. Let us tell you that US President Donald Trump warned that if Tehran did not accept the peace terms, America could start attacking Iran again in the next 2-3 days.
SK Sharma is a content writer who writes on news, entertainment, and lifestyle topics. She has over four years of experience and is known for conveying information in simple and clear language.
