In The Today Report Of Free Commodity Tips expert
Rudra Investment said Rupee against dollar has also seen a main weak spot on
Monday. It fell 29 paise to open at 71.54 level. Buying dollars of banks and
importers increased the heaviness on the rupee.
On Friday, the rupee closed at
71.25 with a weak spot of 17 paise against the dollar. After the interim budget
was presented, there was pressure on the rupee. Due to the increased stress on
the fiscal situation due to populist schemes in the budget, there was a weak
rupee in the rupee.
In the budget, the interim
finance minister said that fiscal deficit during this financial year could be
3.4 percent of GDP. It is 0.1 percent more than the target set for this fiscal
year.
Rudra Investment Free Commodity Tips
Expert said, "Today the dollar and rupee pair are expected to be within
the range of 71.40 to 72.20." On the other hand, the dollar has
strengthened against major currencies. The reasons for this are better figures
than expected in the US.
This week, the Reserve Bank of
India (RBI) will announce its monetary policy. Its effect can also be seen on
the rupees. It is anticipated that the central bank can make a slight reduction
in interest rates.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.