Rupee Vs Dollar: turmoil in both global equity and currency markets
By MYBRANDBOOK
Rupee falls against US , tracking weak domestic equity market and persistent foreign fund outflows. The rupee depreciated and steady at 71.95 against the US dollar in early trade on Thursday due to rising crude oil prices and foreign fund outflows. Brent crude futures, the global oil benchmark, declined 0.63 per cent to USD 60.11 per barrel.
India's exports declined for the first time in nine months in June hit by trade war between the US and China. Trade deficit slipped to USD 15.28 billion in June from USD 16.6 billion in the year-ago month
A strengthening US dollar against major currencies overseas also weighed on the rupee sentiment, forex traders said, Another reason of this fall our is, uncertainty over the US-China trade talks and recession fears kept investors on edge, lead to sustained buying in the domestic equity market restricted the rupee's fall.
Losses in domestic equity markets and unabated foreign fund outflows hit the rupee sentiment, forex dealers said. There is Positivity surrounding the US-China trade talks after China indicated that it may not immediately respond to recent US tariff hikes helped revive the sentiment. Chinese currency yuan gained 0.20 per cent, cutting short its 10-day losing streak against the dollar.
A weak dollar against other major currencies overseas and softening crude prices restricted the rupee's fall, they added.
At the interbank foreign exchange, the rupee opened weak at 71.96 and fell further to 72.05 against the US dollar. The domestic currency, however, pared some losses and was trading at 71.95. The market has also witnessed as the rupee fell 29 paise to close at 71.77 against the US dollar on Wednesday.
The BSE Sensex closed at 39,131.04 points, showing a rise of 234.33 points or 0.60 per cent. The broader NSE Nifty ended 72.70 points or 0.63 per cent up at 11,661.05. Meanwhile, investors remained edgy over concerns about developments in the China-US trade talks.
BREAKING NEWS
TECHNO TRENDS
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
Technology and a robust partner network help position Allied T
Allied Telesis in India has a strong and growing team that is very customer
IceWarp positioning itself as a disruptor in the Email and col
Post pandemic, the digital evolution has evolved. With most organizations a
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
RELIANCE JIO INFOCOMM LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
MATRIX COMSEC PVT. LTD.
SECUREYE SERVICES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Bharat Goenka
Bharat Goenka is the Managing Director of Tally Solutions. He is well ...
Technology Icons Of India 2023: Sridhar Vembu
Sridhar Vembu is an Indian billionaire business magnate and the Founde...
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
PARTNER SPEAKERS
PSU
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
BBNL empowering rural India digitally
BBNL provide high speed digital connectivity to Rural India at afforda...
VIDEOS
Top 25 Brands
Value-Added Distribution
SUPERTRON ELECTRONICS PVT. LTD.
Supertron deals in servers, laptops, components, accessories and is a...
SONATA INFORMATION TECHNOLOGY LIMITED
Sonata Software Limited is a leading Modernization engineering company...
NETPOLEON SOLUTIONS
Netpoleon Group is a Value-Added Distributor (VAD) of Network Security...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
