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August 4: Rupee opens weak against the dollar

Rupee opens weak against the dollar
Written by bobby
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August 4: Rupee opens weak against the dollar: Rupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a loss of 23 paise at Rs 79.38 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 79.16 with a weakness of 45 paise against the dollar. Trading in dollars needs to be done very wisely, otherwise, the investment may suffer.

August 4: Rupee opens weak against the dollar, 23 paise open

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

On Wednesday, the rupee declined by 45 paise to close at Rs 79.16 against the dollar.
On Tuesday, the rupee gained 31 paise to close at Rs 78.71 against the dollar.
On Monday, the rupee strengthened by 23 paise to close at Rs 79.02 against the dollar.
On Friday, the rupee strengthened by 50 paise to close at Rs 79.25 against the dollar.
On Thursday, the rupee gained 15 paise to close at Rs 79.75 against the dollar.

August 4: Rupee opens weak against the dollar, 23 paise open

Know the reason for weak or strong rupee

The value of the rupee is determined by its demand and supply against the dollar. At the same time, the country’s imports and exports also have an impact on 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.

August 4: Rupee opens weak against the dollar, 23 paise open

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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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