In the last trading session of the week today, the Indian rupee fell 18 paise to close at 85.45 against the US dollar. The growing tension between India and Pakistan and the slowdown in the Indian stock market today saw a decline in the rupee after the initial improvement and finally it closed down. With this, the rupee has fallen by 0.1 percent on a weekly basis.
Today, the rupee opened at 85.17 in the Interbank Foreign Currency Exchange Market, which is more than 10 paise than Thursday’s closed level 85.27. Subsequently, in the day -long trading, the rupee created the highest of 85.08 and a minimum level of 85.65 and closed at 85.45 at the end of the trading at 85.45. According to experts, the rupee still touched the level of 85.08, but as it was seen earlier, the rupee has to face resistance when reached 85 and today the rupee could not cross this level due to the increasing tension between India and Pakistan and could not go up.
Meanwhile, the dollar index showing the dollar status against six major currencies was seen trading 0.24 percent to 99.61 today. Global crude oil benchmark brant crude futures were also trading at $ 66.11 a barrel by 0.66 percent.
Foreign exchange reserves rose $ 8.31 billion to $ 686.15 billion. India’s foreign exchange reserves rose $ 8.31 billion to $ 686.15 billion in the week ended April 18. Last week too, the stock rose $ 1.5 billion to $ 677.84 billion. Foreign exchange assets rose $ 3.5 billion to $ 578.5 billion in the week under review, while gold reserves rose by $ 4.57 billion to $ 84.57 billion.
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