The rupee weakened against the US dollar on Wednesday. It weakened by 2 money to close at 86.55.
The domestic currency weakened against the US dollar on Wednesday, falling from 5 paise to trade at 86.58. It marks the continuity of the projection to the bottom of the trajectory after the fall of 19 money on Tuesday, which brought the posture to 86.53.
The weakness of the rupee is inspired by the ongoing global economic concerns and the instability of the market. To support liquidity within the banking system, the Reserve Bank of India (RBI) on Monday announced a series of special measures. These measures, including open market operations, long -lasting variable rate repo auctions, and foreign exchange market intervention, are expected to inject around Rs 1.5 lakh crore in the banking system. While these stages are designed to provide some assistance to the rupee, it is under pressure in front of global uncertainties.
Exporters are advised to have small amounts of hedge near 86.60 level, which is currently being supported by the RBI, while importers are encouraged to buy dollars on dollars, the head of the Treasury in the Finerex Treasury Advisors LLP And according to Executive Director Anil Kumar Bhansali.
(Tagstotransite) Dollar – Rupee
