New Delhi, September 21. Rupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 5 paise at Rs 79.80 against the dollar. At the same time, the rupee on Tuesday closed at Rs 79.75 with a strength of 2 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 Tuesday, the rupee strengthened by 2 paise to close at Rs 79.75 against the dollar.
On Monday, the rupee declined by 3 paise to close at Rs 79.77 against the dollar.
On Friday, the rupee closed at Rs 79.74 with a weakness of 4 paise against the dollar.
On Thursday, the rupee declined by 26 paise to close at Rs 79.70 against the dollar.
On Wednesday, the rupee declined by 29 paise to close at Rs 79.44 against the dollar.
Know the reason for weak or strong rupee
Rupees the price of Dollar is determined by demand and supply. At the same time, the country’s imports and exports also have an impact on 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.
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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.
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Rupee opens 5 paise weaker against dollar on 21 September 2022
On 21 September 2022, the rupee opened somewhat weaker against the dollar.
Story first published: Wednesday, September 21, 2022, 9:09 [IST]