Today, with rupee weakness, open and open on Wednesday, 21 paise against the US dollar, falling to 69.64
Trump had announced to increase the import duty on several Chinese products from 10 percent to 25 percent on May 10, which led to a trade war between US-China and concerns among forex investors have also increased.
Foreign exchange traders said, in addition to the withdrawal of trade war, overseas funds between the US-China, heavy selling in the domestic market and rising prices of crude oil also kept pressure on the rupee. Rupee weakens at 69.57 in Interbank Forex market. Shortly after this came down to 69.64.
The rupee was closed at 69.43 against the US dollar on Tuesday. Meanwhile, China has sent a high ranking delegation led by Vice Premier Liu Hey to resume business negotiations with the US. Trump had also announced to increase the import duty on sugar products from 10th May to $ 200 billion from 10 per cent to 25 per cent. Meanwhile, global crude oil crude oil increased 0.43 percent to $ 70.18 a barrel.
Meanwhile, Foreign Institutional Investors (FIIs) pulled out 645.08 crores on net basis on Tuesday. The domestic share opened on Wednesday with a negative signal. The Sensex was down 236.32 points, at 38,040.31 points and the Nifty was trading 68.05 points at 11,429.85.
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Trump had announced to increase the import duty on several Chinese products from 10 percent to 25 percent on May 10, which led to a trade war between US-China and concerns among forex investors have also increased.
Foreign exchange traders said, in addition to the withdrawal of trade war, overseas funds between the US-China, heavy selling in the domestic market and rising prices of crude oil also kept pressure on the rupee. Rupee weakens at 69.57 in Interbank Forex market. Shortly after this came down to 69.64.
The rupee was closed at 69.43 against the US dollar on Tuesday. Meanwhile, China has sent a high ranking delegation led by Vice Premier Liu Hey to resume business negotiations with the US. Trump had also announced to increase the import duty on sugar products from 10th May to $ 200 billion from 10 per cent to 25 per cent. Meanwhile, global crude oil crude oil increased 0.43 percent to $ 70.18 a barrel.
Meanwhile, Foreign Institutional Investors (FIIs) pulled out 645.08 crores on net basis on Tuesday. The domestic share opened on Wednesday with a negative signal. The Sensex was down 236.32 points, at 38,040.31 points and the Nifty was trading 68.05 points at 11,429.85.
Click here for regular stock exchange updates
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