Rupee
Crude oil (Crude Oil) Fall in prices and the domestic stock market (Share Market) US currency on Friday in the foreign exchange market with a rise in (US Dollar) Rupee against (Rupee) It has strengthened by 34 paise and closed at 75.26 (Provisional) per dollar. The rupee opened at 75.31 per dollar in the interbank foreign exchange market. After touching a high of 75.18 and a low of 75.46 during trading, it finally closed at 75.26 per dollar with a gain of 34 paise. On Thursday, it had closed at 75.60 per dollar, down by 99 paise. The perception of at-risk assets has been affected after the start of Russia's military campaign against Ukraine.
Meanwhile, forming a common front led by the European Union, has agreed to economic and financial sanctions against Russia. The dollar index, which shows the dollar's trend against six currencies, rose 0.01 percent to 97.14. The price of Brent crude, considered the global standard, has increased by 1.07 per cent to $100.14 per barrel.
What did the experts tell the reason behind the strengthening of the rupee?
Dilip Parmar, Research Analyst, HDFC Securities, said calmness has returned to the forex markets as participants have assessed the repercussions of Russia's invasion of Ukraine and are now back to the Federal Reserve. He further said that the weaker-than-expected US sanctions on Russia supported the sentiments of the market. The rupee has gained in line with regional currencies after crude oil prices fell from eight-year highs along with a rally in the domestic equity market.
The 30-share Sensex of the Bombay Stock Exchange closed at 55,858.52 points, up 1,328.61 points.
According to stock market data, foreign institutional investors have remained net sellers in the capital market. He has sold shares worth Rs 6,448.24 crore on Thursday.
Let us tell you that due to the fight between Russia-Ukraine, there was a furore in the stock market on Thursday. The Sensex saw the fourth biggest fall in history. The Sensex had fallen by more than 2700 points. Nifty had fallen 5 per cent. Nifty has been below the figure of 16,300 points. At the close of the stock market, the Sensex was down 2,702.15 points or 4.72 per cent at 54,529.91. Whereas, the Nifty was down 815.30 points or 4.78 per cent to reach 16,248.00.
(with PTI input)
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