Rupee Open: Rupee touched a record low against the dollar today. In intraday, the price of 1 dollar has reached the level of 77.77. The rupee weakened by 24 paise against the dollar today to open at 77.69 against 77.45. Let us inform that on the occasion of Buddha Purnima, the forex market was closed on Monday.
The rupee had closed at 77.45 against the dollar in Friday’s trade. If we look at the movement of the rupee against the dollar last week, the rupee weakened by 53 paise to close at 77.45. On the other hand, on May 6, the rupee had closed at the level of 76.91.
Due to continuous selling by foreign investors, the rupee is also weakening. FIIs have been net sellers in India for the 8th consecutive month since October 2021. In the month of April, FIIs have sold $ 22.31 billion.
In the month of May so far, FIIs have sold Rs 32,701.03 crore in the Indian equity market while DIIs have bought Rs 26,735.36 crore.
Here, due to the rise in crude, pressure is also being seen in the rupee. Crude oil continues to rise on the prospect of increasing demand in China. Brent has crossed $114.