Best Commodity Tips Provider: 2 Rupees Fall Rupee Open At 69.07

According To Best Commodity Tips Provider, The rupee weakened open on the first day of the week. The reason for this is the purchase of dollars and importers of banks and importers. Rupee drops by 12 paise to 69.07 against the US dollar on Monday.

By making the investment, the rupee had reached a seven-month high. However, the rupee was under pressure on Friday due to the strong dollar against the world's major currencies like Euro, Pound, and Japanese Yen. This led to a fall of 12 paise to close at 68.95 against the dollar on Friday.

Investment firm Rudra Investment Financial Services said in its report, "The rupee has also come down due to the rise in crude oil prices in the global market. In addition to the domestic front, the disappointing data released by the recent inflation and industrial production also affected rupee.

This year, domestic currency has been one of the best-performing currencies in Asian markets so far. The biggest reason for this is that foreign investors have to rely on domestic markets. According to the Best Commodity Tips Provider, "Today's turnover is expected to be between the dollar and rupee exchange rate of 68.70 and 69.40."

US Central Bank Federal Reserve did not decide to increase rates and despite notifying further rates in 2019, the US dollar climbed against the world's second competitive currencies. This week, the eyes of all the market participants will remain on the figures of economic growth (GDP) issued in the US this week. The market estimates that in the third quarter, the GDP of American may grow at 2.4% Earlier, GDP growth was projected to grow at a rate of 2.6 percent.