There has been a weakness in the rupee against the dollar and the rupee has closed at a low of 15 months. Against the dollar, the rupee has weakened by 38 paise to close at 75.36 in Somnar trading today, which is the low of July 14, 2020.
Rupee also started with weakness today. The rupee weakened by 14 paise to open at 75.13 against the dollar today.
At the same time, the rupee had closed at the lowest level since April 23 against the dollar in Friday’s trade. The rupee on Friday weakened by 21 paise to close at 74.99 against the dollar.
Unlike the currency market, today the equity market was dominated by the bulls. Today Nifty touched the level of 18000 in intraday. At the same time, Bank Nifty has also closed the record. In today’s trade, 34 out of 50 stocks of Nifty were seen buying. On the other hand, buying dominated 20 out of 30 Sensex stocks. 7 out of 12 stocks of Nifty Bank saw a rise.
At the end of trading, the Sensex closed at 60,135.78 with a gain of 76.72 points, or 0.13 per cent. On the other hand, the Nifty closed at 17,945.95 with a gain of 50.75 points, or 0.28 per cent.
Know how expensive dollars will affect you
The country has to import about 80 percent of its crude oil requirement. India has to spend a lot of dollars in this. This puts pressure on the country’s foreign exchange reserves, which affects the value of the rupee. If the dollar is expensive, we have to pay a higher price, and if the dollar is cheap, we get some relief. Every day this fluctuation keeps changing the position of the rupee against the dollar.
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