Dollar vs Rupee Today: Against the American currency, the rupee fell by 8 paise and closed at 83.08 per dollar on Tuesday (13 February 2024). The rupee declined due to strengthening of the dollar against other major foreign currencies and weak investor sentiments due to rising crude oil prices. Forex traders said that however, the rise in domestic stock markets and buying by foreign investors supported the domestic currency. Got support and the decline was curbed.
In the interbank foreign exchange market, the rupee opened at 83 against the dollar and touched a high of 82.98 and a low of 83.08 during the day’s trading. At the end of trading, the rupee closed at 83.08 with a fall of 8 paise compared to the previous closing price.
The rupee had strengthened by 7 paise and closed at 83 against the US dollar on Monday. Anuj Chaudhary, research analyst at BNP Paribas Buy Sharekhan, said the rupee was expected to rise due to positive Asian markets and fresh buying by foreign investors.
However, the rupee closed down due to the strengthening of the dollar against other major currencies. Meanwhile, the dollar index, which reflects the position of the US dollar against six major currencies, stood at 104.21 with an increase of 0.05 percent.
Global oil standard Brent crude futures rose 0.85 percent to US $ 82.70 per barrel. According to stock market data, foreign institutional investors (FIIs) made net purchases of shares worth Rs 126.60 crore on Monday.
What was the value of 1 rupee in 1947?
India got independence from British rule in 1947. India’s currency was then pegged to pounds sterling and the exchange rate was 1 shilling and 6 pence for 1 rupee. During this period, the price of 1 pound was around Rs 13.33, while the dollar-pound exchange rate was $4.03 per pound.
