Rupee Fall: Historical fall of rupee against dollar, touched all time low, gold and silver also fell.

Rupee Fall: Historical fall of rupee against dollar, touched all time low, gold and silver also fell.

Rupee against Dollar: There was a big fall in the value of Rupee against Dollar on Friday. It touched its all-time low after the historic fall. The rupee fell by 35 paise and closed at Rs 83.48 against the US dollar. Earlier, the lowest level of rupee was 83.40, which it touched on December 13, 2023. On Friday morning, the Indian currency opened at the level of Rs 83.28 against the dollar. By evening it declined further. The dollar has also strengthened against other foreign currencies, the euro and the pound.

Rupee fell to 83.52 against dollar in intraday trade 

The unexpected cut in interest rates by the Swiss National Bank (SNB) also affected the value of the rupee. SNB has reduced interest rates by 25 basis points to 1.5 percent. After this, expectations have increased that the European Central Bank (ECB) may also reduce interest rates in June 2024. Other currencies of Asia also declined on Friday. Due to this, the rupee fell by 35 paise against the dollar. In intraday trade it had fallen to the level of 83.52 against the dollar. 

Dollar strengthened due to weakness in Euro and Pound

Dollar index rises, oil benchmark also increases 

The dollar index, which shows the strength of the US currency against the world's six largest currencies, rose by 0.31 percent to reach 104.32 on Friday. Global oil benchmark has also increased by 0.05 percent to reach $ 85.74 per barrel. According to Anuj Chaudhary, at present all these circumstances are pointing towards the weakness of the rupee. If the Reserve Bank of India sells dollars, it can help in stabilizing the rupee.

Gold and silver rates also fell 

On Friday, BSE Sensex closed at 72,831.94 points, up 190.75 points or 0.26 percent. Apart from this, NSE's Nifty increased by 84.80 points or 0.39 percent to reach 22,096.75 points. According to stock exchange data, foreign institutional investors (FIIs) sold shares worth Rs 1,826.97 crore on Thursday. Meanwhile, on Friday, the price of gold fell by Rs 875 per tola to Rs 66575 and the rate of silver also fell by Rs 760 to Rs 76990 per kg.

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