Top Ad 728x90

Monday, 15 October 2018

,

Rise in rupee value came to a stop on Monday

Rise in rupee value came to a stop on Monday


After the rise in the price of crude oil in the face of geo-political tension, the rise in the rupee going on from three sessions came to an end on Monday and the rupee declined by 26 paise to close at 73.83 rupees.

The market sources said that due demand of dollar, the demand of domestic currency has been declining steadily.

On Friday, the rupee had gained 55 paise to close at 73.57 against the dollar. Due to continuous withdrawal of foreign capital, the rupee also declined. According to preliminary data, foreign institutional investors sold shares worth Rs 1,322 crore on Friday. Market sources believe that rising prices of crude oil has resulted in rupee depreciation. Financial Benchmarks (India) Ltd set a reference rate of $ 73.9708 per dollar for Monday's trading, 85.4895 rupees per euro, 97.0832 rupees per pound, and 66.08 rupees per for Japanese Yen.

Share this post

0 comments:

Post a Comment

Top Ad 728x90