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Rupee Update: Rupee breaks 12 paise in early trade, showed great strength yesterday – News

Rupee Update: Against the US dollar, which is becoming stronger in the foreign market, the rupee fell by 12 paise to 77.62 per dollar in early trade today. The rupee opened at 77.61 in the inter-bank foreign exchange market, but in a short time it came down to Rs 77.62 per dollar. In this way, a fall of 12 paise was seen in the rupee as compared to the previous trading day.

On Wednesday, the rupee recovered from its historic fall and closed at 77.50 with the strength of 21 paise. Yesterday, the currency market saw a strong rise in the rupee, whose effect was expected to continue even today, but the rupee opened by falling.

what the expert has to say
Sriram Iyer, Senior Research Analyst, Reliance Securities, said that the fall in the Indian currency’s position is due to the strengthening of the dollar overseas and higher bond yields.

Dollar index status
The dollar index, which measures the strength of the US dollar against the world’s six major currencies, rose 0.05 per cent to 102.55. International oil standard Brent crude futures fell 1.57 percent to $ 114.46 per barrel.

Foreign investors are withdrawing capital
At the same time, the process of withdrawal of foreign investors from Indian markets continues. According to the data received from the stock exchange, foreign institutional investors sold shares worth Rs 1,930.16 crore on Wednesday.

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