A continuous decline is being seen in the value of Indian currency rupee. On Monday, once again a decline in the value of rupee was recorded in the interbanking currency market. With this the Indian currency fell to its lifetime low level. This decline has come at a time when the domestic stock market has also seen a decline in Monday’s trading.
Now the price has remained this much
According to the data of interbanking money market, There was a decline of 7 paise in the value of rupee in Monday’s trading. With this the Indian currency came to Rs 83.34 against the dollar. That means now the price of one dollar became equal to Rs 83.34. A day earlier i.e. on Friday of last week, the rupee was at 83.27 against the dollar. In this way, the price fell by 0.08 percent in Monday’s trading.
This is the lowest level in history
The decline in today’s trading may have been minor, but at the same time the Indian The price of currency reached its all-time low level i.e. the lowest level in history. Earlier on November 10 also, the rupee had closed at the same level. The rupee fell further during trading on November 10. At one time in that day’s trading, the price had gone down to 83.42.
There is pressure on the rupee due to these reasons
The rise in dollar is not responsible for this fall in the rupee. The dollar index, which shows the strength of the US dollar in the basket of six major currencies, is trading 0.42 percent lower at 103.48 today. This is one of the lowest levels of the dollar index since September. Currently, the main reason for the fall in the value of rupee is crude oil. Apart from this, the demand for dollars coming from government banks is also responsible for the weakness of the rupee.
The stock market also had an impact
Other factors include the decline in the domestic stock markets and Includes selling by foreign investors. Today on Monday, the domestic stock market has declined for the second consecutive day. Today Sensex closed with a loss of 139.58 points and Nifty closed with a loss of about 37 points. Earlier on Friday, Sensex had fallen by 187.75 points and Nifty by 33.40 points.
Get more latest business news updates