Rupee record low: The Indian rupee has shown a historic decline against the dollar and it has gone above Rs 87 for the first time. At the beginning of the currency market, the rupee fell 42 paise to open at 87.06 level against the dollar, while the business has fallen to 55 paise within 10 minutes of starting. It slipped up to Rs 87.12 per dollar due to a strong fall in Indian rupee against one dollar.
Why the fall in the rupee falling
Today the reason for the dollar strength is more effective due to the decline of the rupee and due to this, the impact on the business doing business is seen in front of the dollar. The tariffs imposed by the US increase the attraction regarding the dollar. All the currency working against it is seen to decline and this has happened today. Especially in developing countries, India’s currency for India’s currency money works to bring weakness.
Indian currency falls up to Rs 87.16 per dollar
The rupee lost 54 paise in early trade to its lowest level to 87.16 against the US dollar and the rupee is continuously coming down in early trade. Due to the fall of the rupee, the impact on Indian IT companies is seen and if seen in them, the shares of Wipro seems to be benefiting. If IT companies get revenue in dollars, then the impact of the dollar strength can get the impact of the country’s IT companies.
Stock market also poor starts today
Today has been a bad start for the stock market and Sensex-Nifty is open on a big decline. The Sensex of BSE is opened at 77,063 levels with 442.02 points or 0.57 per cent. Apart from this, NSE’s Nifty has shown the start of trading at the level of 23,319 with a decline of 162.80 points or 0.69 per cent.
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