Rupee at All-time Low: Record fall in Rupee, reached historic low of 83.29 per dollar

Rupee at All-time Low: Record fall in Rupee, reached historic low of 83.29 per dollar

Rupee at All-Time Low: The fall of Rupee against the Dollar has reached a historic level today. Today the rupee has fallen to 83.29 per dollar and a further decline of 13 paise has been recorded. The reason behind the sharp fall in the rupee against the US dollar in the Interbank Foreign Currency Exchange market was that the prices of crude oil are continuously increasing and the strength of the dollar is also increasing compared to other currencies in the international market. Due to this, the sentiment for the rupee has weakened today. 

Fourth consecutive trading session in which the rupee declined

The rupee depreciated for the fourth consecutive trading session against the dollar and fell further by 13 paise to its all-time low of 83.29 (provisional) per dollar. Forex traders said that apart from this, negative sentiment in the domestic stock market has also affected the sentiment of investors. In the Interbank Foreign Currency Exchange market, the rupee opened at 83.09 and during the day’s trading it remained in the range of 83.09 to 83.30 per dollar. However it finally closed at 83.29 (temporary) per dollar. The rupee went to all-time low showing a fall of 13 paise from Friday’s closing price. In the last trading session on Friday, the rupee fell by 13 paise and closed at 83.16 per dollar.

How was the trade in the currency market today

Meanwhile, the dollar index, which shows the position of the US dollar against the six main currencies of the world, fell by 0.11 percent to 105.20. Brent crude, considered as the benchmark crude, has reached the price of $ 94.32 per barrel with an increase of 0.42 percent and its rise is also affecting the level of the dollar."text-align: justify;">What do experts say

Decline in export-import is also impacting the Indian rupee

The country’s export-import figures have been released on Friday and this time there has been disappointment on both the import and export fronts. Exports have also decreased and imports have also declined. Due to this, the impact of the rupee is also being seen. According to government data released on Friday, India’s exports declined by 6.86 percent to $34.48 billion in August, whereas it was $37.02 billion in the same month last year. Import also declined by 5.23 percent to $58.64 billion, which was recorded at $61.88 billion in August last year. 

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