Rupee, Sensex, and Nifty: The Impact of the US Dollar on Indian Currency

Tuesday, 10 September 2024, 03:38

Rupee depreciation against the US dollar highlights ongoing challenges in the global economy. The Sensex and Nifty reacted to these changes, indicating investor sentiment amidst fluctuating brent crude prices and RBI monetary policy adjustments.
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Rupee, Sensex, and Nifty: The Impact of the US Dollar on Indian Currency

Rupee's Struggles Amidst US Dollar Rise

The Indian rupee faced a setback, depreciating by 2 paise to close at 83.97 against the US dollar. This decline is attributed to a strengthening US dollar and mixed non-farm payrolls data that added to the uncertainty in the global economy.

Sensex and Nifty Response

As the rupee faltered, the Sensex and Nifty indices responded to the changing exchange rate dynamics. Investors are monitoring the impact of the RBI's monetary policy on economic growth and currency stability. The influence of global crude oil prices also plays a significant role in shaping market sentiments.

Key Factors Affecting Currency

  • US Dollar Strength
  • Brent Crude Price Fluctuations
  • RBI's Monetary Policy Changes
  • Foreign Institutional Investors (FIIs) Movements

The exchange rate of the rupee reflects the ongoing economic challenges that might affect financial markets in the coming days.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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