Monday The Indian rupee also fell by 4 paise to its new all-time low of Rs 84.11 (provisional) against the dollar amid weakness in the Indian stock market and continued withdrawal of foreign funds. Forex traders said the Indian rupee has fallen to its lowest level under pressure from domestic markets. We tell you that today there was a drop of more than 1 percent in the Indian stock market. Furthermore, improving crude oil prices and withdrawal of FIIs also affected the investor trend. However, the weakening of the dollar prevented a sharp decline.
Today the Indian rupee opened at 84.07
The Indian rupee opened at 84.07 against the dollar in the interbank forex market. After trading between a high of 84.06 and a low of 84.12, it finally closed at a record low of 84.11 per dollar (provisional), down four paise. On Thursday, the rupee closed at 84.07 per dollar, up 1 paise against the US dollar. We tell you that the foreign exchange market was closed on Friday on the occasion of Diwali. Meanwhile, the dollar index, which shows the dollar’s strength against six major world currencies, was down 0.52 percent at 103.73.
The dollar also fell
Anuj Chaudhary, research analyst at BNP Paribas’ Sharekhan, said the dollar fell on Friday due to a disappointing US nonfarm payrolls report and ISM manufacturing PMI data. The United States added only 12,000 jobs in October 2024, compared to the forecast of 1,06,000 jobs, while the ISM Manufacturing PMI fell to 46.5 in October, below the forecast of 47.6. Additionally, global benchmark Brent crude rose 2.63 percent to $75.02 per barrel.
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