The Indian rupee today fell sharply against the US dollar to go past 72-a-dollar mark again. Although, the opening was at 71.97 a dollar, the rupee fell to 72.27 at day’s low, as compared to previous close of 71.40.
- This directly impacted the gold and silver prices that rose in domestic markets today.
- The decline in rupee in the domestic stock market indices Sensex and Nifty also put pressure on the rupee.
- Weak GDP data and strengthening of the US dollar also effected the Indian rupee.
- A stronger dollar also weighed on the rupee today. The dollar index, which measures the greenback against a basket of six major currencies, was up nearly 0.4%, having climbed to a more than two-year high.