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August 17: Rupee opens 36 paise stronger against dollar

Rupee opens 36 paise stronger against dollar
Written by bobby
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August 17: Rupee opens 36 paise stronger against dollar: The rupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a gain of 36 paise at Rs 79.30 against the dollar. At the same time, on Friday, the rupee closed at Rs 79.66 with a weakness of 2 paise against the dollar. Trading in dollars needs to be done very wisely, otherwise, the investment may suffer.

August 17: Rupee opens 36 paise stronger against dollar

Know the closing level of the rupee for the last 5 days

On Friday, the rupee weakened by 2 paise to close at Rs 79.66 against the dollar.
On Thursday, the rupee declined by 12 paise to close at Rs 79.64 against the dollar.
On Wednesday, the rupee strengthened by 14 paise to close at Rs 79.52 against the dollar.
On Monday, the rupee declined by 35 paise to close at Rs 79.66 against the dollar.
On Friday, the rupee strengthened by 23 paise to close at Rs 79.23 against the dollar.

August 17: Rupee opens 36 paise stronger against dollar

Know the reason for a weak or strong rupee

The value of the rupee is determined by its demand and supply against the dollar. At the same time, the imports and export of the country also affect it. Every country maintains its own foreign exchange reserves. With this, he pays for the goods imported into the country. Every week the Reserve Bank releases the data related to it. What is the position of foreign exchange reserves, and what is the demand for dollars in the country during that time, it also determines the strength or weakness of the rupee.

Know the effect of expensive dollars on you

The country has to import about 80 percent of its crude oil requirement. India has to spend a lot of dollars on this. This puts pressure on the country’s foreign exchange reserves, which affects the value of the rupee. If the dollar is expensive, we have to pay a higher price, and if the dollar is cheap, we get some relief. Every day this swing keeps changing the position of the rupee against the dollar.

About the author

bobby

Hi, I am Bobby. Blogger India. I love writing, and reading articles. Blogging is my passion. I have started my blogging career in 2016.

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