Rupee Gains Control In Market By 18 Paise; Falls Down By Afternoon

TODAY the morning money market saw the Indian Rupee rise by 18, but the afternoon market saw Indian Rupee in a downward trend.

The rupee made a cautious recovery of 18 paise to 73.88 against the US dollar on Tuesday on fresh selling of the American currency by banks and exporters.

However, all the gains were down the drain, as the afternoon market saw the Indian Rupee trading marginally lower at 74.07 per Dollar.

Yesterday it closed lower by 29 paise versus Friday’s close 73.77.

While the low trend of Indian Rupee against Dollar is worrisome, the economists stated that there is no need to panic.

According to the bankers, the economy’s fundamentals and domestic factors continue to be strong and the markets are impacted by global factors.