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In the currency market, the rupee kept the pegs firmly for the third consecutive day and closed down in front of the dollar. The special thing is that after two consecutive days of rise in the first half of the third day, the innings of the rupee was slightly falter. But in the second half, the rupee overturned the entire bet and finished the third day innings on the positive note. Due to the rise of three consecutive days, the rupee has gained about 50 paise. A day earlier, by noon, the rupee had seen a rise of 40 paise, but late evening the rupee closed with a rise of 26 paise.

According to experts, the reason for the rise in the rupee is Trump's Russian attempts among Ukraine. Due to which tariff tension is also likely to be reduced. Also, with the announcement of GST Reform, the stock market is trading with positive sentiments. The money is also getting the benefit of the rupee. Let us also tell you how the scoreboard of the rupee is seen on this pitch of the currency market?

Rupee gains for third consecutive day

The rupee closed at 87.07 (provisional) against the US dollar, over the US dollar, over the US dollar, over an increase in the global market. Foreign currency traders said that the stress on trade tariffs and the hopes of peace between Russia and Ukraine have increased the enthusiasm of investors. In addition, the proposed GST reform and recent improvement in credit rating by a foreign agency has increased confidence in India's economy. Due to strengthening of US dollars and improvement in crude oil prices, the rupee declined in the first hour of the day. However, traders said that the rupee compensated the loss due to the rise in domestic stock markets and a potential foreign capital flow.

How much jump came in three days?

The rupee opened weakness at 87.16. After that, he recovered from the decline and reached the high level of 86.98 against the dollar. In the Inter Bank Foreign Currency Exchange Market, the rupee closed at 87.07 (provisional), which shows a gain of 6 paise in the previous closed price. On Tuesday, the rupee rose 26 paise to close at 87.13 against the US dollar. The special thing is that the rupee has seen the third consecutive day. On Monday, the rupee has gained more than 50 paise in three days with 20 paise on Monday, 26 paise on Tuesday and now 6 paise.

How can the rupee perform?

Anuj Chaudhary, a research analyst of Mirae Asset Sharekhan and currency research analyst, said that we hope that the rupee will trade with a positive attitude with the reduction of stress on trade charges and the ability to risk in global markets amidst hopes of peace between Russia and Ukraine. The encouraging assumption in the domestic market also supported the rupee. Chaudhary said that the spot price of dollars and rupas is expected to be between 86.60 and 87.30. Now the biggest question remains that on August 27, what kind of figures will be seen after 25 percent extra tariff on August 27. By the way, some experts say that if the war between Russia and Ukraine is over, then America can also take back the crude oil tariff applied on Russian oil.

From oil to stock market

1. Meanwhile, Brent crude was trading 0.67 per cent to $ 66.23 per barrel, amid vigilant optimism over Ukraine-Russia conflict. Whereas a day before, I was trading within a radius of $ 65.
2. The dollar index, which reflects the dollar's strength against six currencies, was 0.06 per cent at 98.20. At the same time, in the current year, the dollar index has seen a decline of more than 9 percent.
3. The Sensex rose by 213.45 points to close at 81,857.84 in the domestic stock market, while the Nifty rose 69.90 points to close at 25,050.55. The special thing is that after about two months, the stock market has seen a rise of 5 consecutive days.
4. According to exchange data, foreign institutional investors sold shares worth Rs 634.26 crore on Tuesday. The news is that on Wednesday, foreign investors have made good purchases in the stock market. By the way, no official data has been revealed yet.

America again warned

Meanwhile, US Finance Minister Scott Besant on Tuesday accused India of "profiting" by selling Russian oil and said that China has been exempted from it. He said that India has done "diversification of its oil". The comment came amidst stress in Indo-US relations after US President Donald Trump imposed a total 50 percent tariff on India. This includes 25 percent tariff on the purchase of Russian oil by New Delhi, which will be applicable from August 27. He further said that “It has started during the war,“ it is absolutely unacceptable during the war, “it is absolutely unacceptable.