Rupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 97 paise at Rs 80.84 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 81.81 with a weakness of 37 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 Wednesday, the rupee depreciated by 37 paise to close at Rs 81.81 against the dollar. On Tuesday, the rupee gained 48 paise to close at Rs 81.44 against the dollar.
On Monday, the rupee gained 52 paise to close at Rs 81.92 against the dollar.
On Friday, the rupee strengthened by 44 paise to close at Rs 82.44 against the dollar.
On Thursday, the rupee weakened by 10 paise to close at Rs 82.88 against the dollar.
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.
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.