New Delhi, September 22. The Reserve Bank of America has raised its benchmark short-term interest rates for the fifth time in a row this year. This has been done to control the rising inflation. Experts are of the opinion that if inflation does not come under control, then interest rates can be increased further.
The Reserve Bank of America has increased the interest rate by 0.75 percent this time. With this increase, interest rates in the US have now come in the range of 3 per cent to 3.25 per cent. Inflation in the US is currently at a 40-year high.
The effect of the increase in interest rates in the US has shown that the rupee today broke against the dollar. Apart from this, the stock market of India is also trading with a decline today. The main reason for this is that it is believed that the Reserve Bank of India can also increase its repo rate. As soon as this happens, loans will be expensive, due to which the common man and corporate will avoid taking loans. This may reduce the demand for the goods.
Rupee depreciates against dollar
Today the rupee opened with weakness against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 40 paise at Rs 80.37 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 79.97 with a weakness of 22 paise against the dollar. Trading in dollars needs to be done very wisely, otherwise the investment may suffer.
The condition of the stock market is also bad
Today the stock market opened with a fall. Today the BSE Sensex fell by 223.02 points and opened at the level of 59233.76 points. On the other hand, the Nifty of NSE opened at a level of 17658.00 points down by 60.30 points. Today, trading started in a total of 2,814 companies on the BSE, out of which about 1,681 shares opened up and 1,009 opened with a fall. At the same time, the share price of 124 companies opened without increasing or decreasing. Apart from this, today 89 shares are trading at 52 week high and 15 shares are trading at 52 week low. On the other hand, 135 shares have upper circuit since morning and 89 shares have lower circuit.
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US Reserve Bank hikes benchmark interest rates by quarter of a percent
Due to the rise in interest rates in America, the rupee opened weak in India and there was a huge fall in the stock market.
Story first published: Thursday, September 22, 2022, 11:34 [IST]