Even though the rupee had closed below 96 on Friday, the rupee had crossed the level of 96 against the dollar during the trading session. But do you know that in the last five trading days the rupee has suffered an average loss of 46 paise. This means that the rupee has fallen by 230 paise i.e. Rs 2.30 this week against the dollar. Such a huge decline in currency in a single week is rarely seen. According to experts, the rupee has declined due to rising crude oil prices and continuous selling by foreign investors. If experts are to be believed, further decline in rupee may be seen in the coming days. Let us also tell you what kind of figures are being seen in the currency market.
This 6 percent broken rupee
On Friday, the Indian rupee fell below the 96 per dollar mark, and then closed at an all-time low of 95.81 against the US dollar. Rising crude oil prices and inflation concerns put downward pressure on the rupee. The rupee has fallen more than 6 percent so far this year, and about 2 percent in the last six trading sessions, as rising Iran war risks pushed up crude oil prices. The dollar index edged up after strong US retail sales and stable labor market data eased expectations of a major interest rate cut by the Federal Reserve.
Rupee at life time lower level
Forex traders said global uncertainties, relatively high valuations and lack of AI-based investment opportunities have put pressure on capital flows. Additionally, weak net FDI inflows are likely to put pressure on the balance of payments, while rising crude oil prices are raising inflation concerns. At the interbank foreign exchange market, the rupee opened at 95.86, then fell to a record low of 96.14 in intraday trade, showing a decline of 50 paise from its previous close. The USD/INR pair eventually settled at its all-time low of 95.81 against the US dollar, showing a fall of 17 paise from the previous close; The possible intervention of RBI helped in this. On Thursday, the rupee weakened to a record low of 95.96, and then closed at 95.64, a marginal gain of 2 paise against the US dollar.
Fall of 230 paise in 5 days
If we look at the data, the rupee has fallen by 230 paise i.e. Rs 2.30 against the dollar in 5 trading days. On the last trading day of last week i.e. on May 8, the rupee had closed at Rs 93.51 with a tremendous rise. Since then, this week, there has been a continuous decline in the rupee and it closed at Rs 95.81 on May 15. This means that this week there has been a big decline in the rupee against the dollar. Experts say that the rupee may see an even bigger fall against the dollar.
Will Rupee score a century?
According to experts, the rupee can score a century against the dollar in the current year. According to currency market expert Anuj Gupta, further decline in rupee is likely to be seen in the coming days. Heavy selling has been seen in bonds, which is a very negative sign for the rupee. Can the rupee touch Rs 100 in the current year? Answering this question, Anuj Gupta said that by the end of the year it seems that the rupee can reach the level of Rs 100. He said that the Iran issue is likely to drag on for a long time. Due to which the prices of crude oil will remain high. On the other hand, selling by foreign investors is also continuing. The effect of which can also be seen in rupees.
What are the market figures saying?
- Meanwhile, the dollar index, which measures the US dollar's strength against a basket of six currencies, was trading at 99.15, higher by 0.34 per cent.
- Global oil benchmark Brent crude was trading at USD 109.04 per barrel, up 3.14 percent in futures trade.
- On the domestic stock market front, Sensex fell 160.73 points to close at 75,237.99, while Nifty fell 46.10 points to 23,643.50.
- According to exchange data, foreign institutional investors remained net buyers for the second consecutive session and bought shares worth Rs 1,329.17 crore on Friday.
- According to Commerce Ministry data released on Friday, India's trade deficit increased to $ 28.38 billion in April this year, compared to $ 27.1 billion in the same month last year and $ 20.67 billion in March 2026.
- Commerce Secretary Rajesh Aggarwal said that despite global challenges, the country's exports increased by 13.78 percent to $ 43.56 billion in April. He further said that imports increased by 10 percent year-on-year and reached $ 71.94 billion.
What do experts say?
Mirae Asset Sharekhan's Research Analyst Anuj Chaudhary said that due to high crude oil prices and inflation concerns, the rupee is expected to trend downwards. Chaudhary said, "Strong dollar and withdrawal of FIIs (foreign institutional investors) may also put pressure on the rupee. However, any intervention by RBI and increase in import duty on gold and silver may support the rupee at lower levels. USD-INR spot price is expected to trade in the range of 95.60 to 96.20.
-
Andy Burnham looks increasingly desperate - his admirers must have short memories
-
Divyenndu: Mirzapur's 'Munna Bhaiya' is now set to flaunt his swag in the South; Divyenndu's killer look revealed..
-
Safety Tips: What to Do in Case of a Gas Leak? This Information Could Save Your Life and Home..
-
Here's how to take inspiration from RHS Chelsea Flower Show - even if you can't get along
-
Here's how to be happy in 10 steps - spoiler alert, it's not about the big things
