₹ vs US$
Since past four weeks Rupee slump is continuing compared to the US Dollar, but Mr. Subhash Chandra Garg (Secretary of Economic Affairs) said this slump is temporary. Always ₹ vs US$ are interlinked with some major causes viz., exports and imports, global demand to dollar, influence of crude oil prices. Due to the reason of impairment in Rupee, IT and Pharma stocks performance will be better. Rupee impairment gives more funds in exchange of dollar for the concerned companies and benefits will be more. July to Sept 2018, Rupee depreciated nearly 6 per cent. The Indian rupee slumped this week by 0.35 paise against the US dollar and 0.24 paise high slump on last week close comparatively.
- Last week Indian rupee closed at ₹71.85 with a gain of 0.34 paise.
- This week closed at ₹72.20 with gain of 0.18 paise.
- High rise 0.60 paise on 19th September 2018 and highest fall at 0.67 paise on 17th September 2018.
