27 paise drop in rupee against dollar in two days, still broken today, not a good sign for future?

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A downward trend has been seen for the second consecutive day in the price of rupee ( Rupee vs Dollar News ). This is worrying. The Indian Rupee rose 8 paise to 83.21 against the dollar in early trade on Tuesday. Experts are of the opinion that due to continuous selling by foreign investors and strength in the US currency, the trend of weakness in Rupees ( Rupees Down Trend ) is being seen.

How was the situation for the second day in a row?

According to Forex Traders ( Forex Market News ), crude oil remains unchanged at the level of 92 dollars per barrel. Due to this also the rupee is under pressure. According to the Interbank Foreign Exchange, the rupee opened at the level of 83.19 against the dollar ( US Dollar ) and touched the level of 83.23 immediately afterwards. It then recovered to a level of 83.21. Due to this, the rupee decreased by 8 paise. Earlier on Monday, the rupee had closed down 19 paise at 83.13.

Further weakness in rupee may be seen in coming days

According to the report, due to rising interest rates in the US and the strength of the dollar, the rupee may remain under more pressure in the coming days. The index showing the strength of the dollar against 6 major currencies of the world has reached 106.07 with a lead of 0.05 percent. Brent Crude, the benchmark of Crude Oil, fell 0.45 percent to settle at 106.07.

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