The real benefit of the ongoing tariff war between America and China is getting India’s currency money. There is also a reason for that. Both America and China are trying to harm exports by putting tariffs on each other products. The effect of which is being seen on both the stock markets. Due to which foreign investors have started turning to India’s stock market. The way foreign investment is being entered in India as dollars. The benefit of this is being seen as strong in the rupee. In the dollar, there is a boom on Thursday for the fourth consecutive day. If we look at the data, till now the rupee has increased by more than one rupee in the rupee against the dollar.
The rupee is running fast for the fourth consecutive day in early trade on Thursday due to FII investment in domestic stock markets and US currency dollars. If we look at the data, the rupee is trading at the level of 85.54 against the dollar. However, according to Forex traders, sluggish perception in the stock market and slight improvement in crude oil prices put pressure on the local currency. Let us also tell you what kind of figures are being seen in the currency market.
Rupee increases for fourth consecutive day
The rupee opened at 85.48 in the Inter Bank Foreign Currency Exchange Market and reached 85.54 against the dollar in early trade, which is 10 paise more than the previous closed level. In Wednesday’s session, the rupee gained 16 paise to close at 85.64 against the dollar. In the last three sessions, the Indian currency has strengthened by 104 paise, while on 9 April it closed at 86.68 against the dollar. According to experts, in the coming days, the rupee can be seen even more in the dollar.
A slight gain in dollar
- Meanwhile, the dollar index measuring the strength of the dollar against six currencies was trading at 99.28 with a slight gain of 0.14 percent.
- In the international market, Brent crude oil of Gulf countries rose 0.96 percent to $ 66.48 per barrel.
- The price of gold in the national capital rose by Rs 1,650 to Rs 98,100 per 10 grams on life time high on Wednesday amidst the increasing trade war between the US and China.
- In the domestic stock market, the 30 -share BSE Sensex fell 333.47 points or 0.43 percent to 76,710.82.
- The major list of National Stock Exchange fell 127.55 points or 0.54 percent to 23,309.65.
- According to exchange data, foreign institutional investors (FIIs) on Wednesday bought shares worth Rs 3,936.42 crore on a pure basis.