Rupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 4 paise at Rs 74.17 against the dollar. At the same time, the rupee on Thursday closed at Rs 74.21 with a gain of 3 paise against the dollar. Trading in dollars needs to be done very wisely, otherwise the investment may suffer.
Know the closing level of the rupee for the last 5 days
- On Thursday, the rupee strengthened by 3 paise to close at Rs 74.21 against the dollar.
- On Wednesday, the rupee weakened by 5 paise to close at Rs 74.24 against the dollar.
- On Tuesday, the rupee strengthened by 2 paise to close at Rs 74.18 against the dollar.
- On Monday, the rupee gained 18 paise to close at Rs 74.21 against the dollar.
- On Friday, the rupee declined by 15 paise to close at Rs 74.38 against the dollar.
Know the reason for weak or strong rupee
The value of rupee is determined by its demand and supply against the dollar. At the same time, the import and export of the country also affects it. Every country maintains its own foreign exchange reserves. With this he pays for the goods imported into the country. Every week the Reserve Bank releases the data related to it. What is the position of foreign exchange reserves, and what is the demand for dollars in the country during that time, it also determines the strength or weakness of the rupee.
Know the effect of expensive dollars on you
The country has to import about 80 percent of its crude oil requirement. India has to spend a lot of dollars in this. This puts pressure on the country’s foreign exchange reserves, which affects the value of the rupee. If the dollar is expensive, we have to pay a higher price, and if the dollar is cheap, we get some relief. Every day this fluctuation keeps changing the position of the rupee against the dollar.
