Once again Indian rupee weakens. Now the new rate o1 Dirham is now at 20.33 Indian rupees. Indian currency going down against dollars and Dirhams. See the new rates.
Reason for Indian Rupee falling against Dirham:
Rising crude oil prices and risk-off attitudes could weigh on the markets. The Indian rupee devalued 32 paise to 74.63 against the US dollar (20.33 vs the UAE dirham) in opening trade on Tuesday 5th October 2021. Tracking the strength of the American money in the overseas market and a softening trend in domestic equities. Indian rupee weakens is not a good sign for Asian market.
Indian interbank foreign exchange:
At the Indian interbank foreign exchange, the rupee began on a weak note at 74.63. Today registering a drop of 32 paise from the last close. Indian currency vs Dirham has fallen at the same rate now at 20.33. The dollar index, which measures the greenback’s power against a basket of six currencies, rose 0.22 per cent to 93.98.
Senior research analyst at Reliance Securities said the Indian rupee began weakly. This Tuesday morning, against the Dollar, the Indian rupee was struggling. Tracking the strength of the greenback.
Crude oil prices:
Additionally, rising crude oil prices and risk-off views could weigh on the markets, he said. Most emerging businesses and Asian money have begun to weaker. Tuesday morning and will balance on opinions, Iyer wrote.
Indian equity market:
On the Indian equity market front, the 30-share Sensex was buying 107.05 points or 0.19 per cent lower at 59,192.30. The broader NSE Nifty trading 22.55 points or 0.14 per cent down at 17,668.80. Know why facebook, instagram and Whatsapp server was down.
Indian currency after COVID-19:
Indian market is struggling against the Dollar and other currencies. There are many reasons behind this fall. Coronavirus has affected the nationa badly. But Modi Govt of India is trying hard to bounce back. India, we all know, is the fastest-growing nation in Asia. Surely we will see a good recovery of Indian currency in a short time.