There has been no change in interest rates by the Central Bank Reserve Bank of India of the country. After which India’s rupee has seen a rise. On the other hand, the US dollar index is seen declining. The effect of which has been seen more on the rupee. According to experts, the decline in the stock market, foreign investors migrated from the stock market, the rise in crude oil prices and the delay in American tariffs. Otherwise, more increase in rupee can be seen. By the way, in the last one month, there has been a fall of about 2 percent in the rupee against the dollar. Let us also tell you at which level the rupee and dollar are trading.
Rupee
The rupee rose from 15 paise to 87.73 (provisional) per dollar on Wednesday due to the dollar fluctuations and the Reserve Bank of India’s decision to keep the interest rates stable. However, according to foreign exchange traders, the rising crude oil prices, negative trends in domestic stock markets and uncertainties over American tariffs limited the lead in local currency. In the Interbank Foreign Currency Exchange Market, the rupee opened at 87.72 and closed at 87.73 (provisional) after the decrease in the radius of 87.63-87.80 during the day, which is 15 paise more than the previous closed price. The rupee reached close to its lowest level on Tuesday, falling down by 22 paise against the US dollar at 87.88.
RBI did not change
After cutting interest rates three times in a row, the Reserve Bank of India (RBI) on Wednesday decided to keep the policy rate unchanged at 5.5 percent and retained a neutral attitude amid concerns over tariff uncertainties. Announcing the third bilateral monetary policy of the current financial year, RBI Governor Sanjay Malhotra said that the growth rate for FY 26 has been maintained at 6.5 per cent.
What more money will break
Anil Kumar Bhansali, Treasury Head and Executive Director of Finrex Treasury Advisors LLP, said that the rupee was in a limited range, RBI was in security position at one end and FPI, along with oil companies, were purchasing for the outflow of their dollars before the due date of American secondary sanctions on Russia (Friday) the day after day. He said that we are waiting for the punitive charges levied by the US on India on buying oil from Russia because the rupee is going through a limited path with some positive thinking today. For tomorrow, we hope that the rupee will be within the range of 87.25/88.00.
Dollar and stock market declines
Meanwhile, Brent crude prices rose 1.45 percent to $ 68.62 per barrel in futures trading. The dollar index, which reflects the strength of the dollar against six currencies, rose 0.01 percent to 98.79 after the night’s fall. In the domestic stock market, the 30 -share BSE Sensex fell 166.26 points to close at 80,543.99, while the Nifty fell 75.35 points to close at 24,574.20. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 22.48 crore on a pure basis on Tuesday.