HomeBusinessRupee falls by 2 paise to close at 79.80 against US dollar

Rupee falls by 2 paise to close at 79.80 against US dollar

The dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.26% to 110.05.

The dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.26% to 110.05.

The rupee on Monday eased 2 paise lower at 79.80 (provisional) against the US dollar against the US dollar, weighed by the greenback’s strength in the overseas market.

In the interbank forex market, the local unit opened at 79.70 against the greenback. During the session, its highest level during the day was 79.59 and the low level was 79.80.

It finally closed at 79.80, down 2 paise from the previous close of 79.78.

The dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.26% to 110.05.

Global oil benchmark Brent crude futures fell 1.52% to $89.96 a barrel.

“The Qing dollar has collapsed against the Chinese yuan and a further weakening of the yuan would be an alarming signal for riskier markets and Asian currencies,” said Dilip Parmar, Research Analyst, HDFC Securities.

The rupee weakened against the US dollar for the fourth consecutive day along with weaker regional currencies. However, the rupee weakened as the economy is in a better position among Asian countries.

On the overseas front, riskier assets extended their decline and the dollar rose against major trading partners ahead of a busy week for global central banks, Parmar said. From 79.05 to 79.90.

On the domestic equity market front, the BSE Sensex ended 300.44 points or 0.51% higher at 59,141.23, while the broader NSE Nifty ended 91.40 points or 0.52% higher at 17,622.25.

Foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 3,260.05 crore on Friday, according to exchange data.

Author
Authorhttps://searchnews.in
Hello Friends, My Name is Raushan Kumar. I am a Part-Time Blogger and Student. I am author of https://searchnews.in . We're dedicated to providing you the best of News, with a focus on Business, Health, Lifestyle, World, Tech, India, Gadget.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

- Advertisment -