23 paise closed at 85.42 with a fall of 23 paise

The Indian rupee closed at 85.42 against the US dollar today at 85.42 against the US dollar due to the strong dollar index due to signs of decrease in trade war with China.

After a gain of 155 paise in five consecutive sessions, the process of decline in the rupee started yesterday and the rupee has fallen by 30 paise in two sessions. Today, the decline recorded in the rupee is the biggest decline in the last two weeks.

Today, the rupee opened at 85.24 from Tuesday’s closed level 85.19 in the Interbank Forex Exchange Market and touched the lowest level of 85.52 during trading. The rupee closed at 85.42 at the end of the business. According to traders, this week the rupee faced resistance at the level of 85, due to which the players who have a boom bet have seen a decline in the rupee.

Meanwhile, the dollar index, which showed the dollar performance compared to six major global currencies, rose 0.09 percent to 99 today. After US President Donald Trump said that the trade war with China will be reduced and the US Federal Reserve Chairman Jerome Powell would not be replaced, the dollar strengthened. Apart from this, crude oil prices witnessed a rise in the second consecutive day, Brent crude rose 1.30 per cent to $ 68.32 per barrel, while WTI crude grew by 1.35 per cent to $ 64.53.