The Indian rupee fell down by 1 paise for the INR vs USD to settle at the price of 83.44 on Wednesday. On the other hand, the domestic markets also fell down a bit, which marked a choppy end to the trading session for the Indian traders. The Forex traders also talked about the gaining momentum of the INR vs USD rate and how it was snapped.

They said that an American firm caused the momentum to snap for the domestic currency while the crude oil prices also increased in the other markets, which prevented the Indian rupee from gaining value. In the Interbank Foreign Exchange, the Indian rupee opened at the price of 83.34 and had its day low of 83.48. However, the currency settled down at the price of 83.44 against the dollar, which is 1 paise lower to the value on Tuesday.

The trade analysts revealed that the dollar index has been around it’s support range which helped the Indian rupee to secure gains over the past few days. Talking about the same, the dollar index, which consists of six Asian currencies against the US dollar, finished at the price of 104.88, gaining 0.01% to it’s previous value.

The dollar index fell down in the initial stages of the trading session but the US retail sales were lower than expected which allowed it to rise. On the other hand, the Brent Crude Futures also declined to finish at the price of 85.22 US Dollars per barrel, falling by 0.13%.

In the domestic equity market, the BSE Sensex gained 0.05% to end up at the price of 77,337.59 points. Along with that, the 50 shares NSE Nifty also gained 0.18% to finish at the price of 23,516 points. This is a great mark for the domestic equity market, as both indices touched new peak levels.

Check here for the latest updates in Hindi!

Join our whatsapp group for Latest updates

Click Here for Hindi Updates

Click Here for Chhattisgarh News

Click Here for Entertainment News