New Delhi, 13 January (H.S.): Due to the strength of the dollar index and the rise in the price of crude oil, the rupee today reached a record low against the dollar. The Indian currency also crossed the level of ₹86 against the dollar today. Due to this sharp decline, the currency closed at ₹86.61 with a weakness of 61 paise against the dollar. This is the lowest level of the rupee, after facing a decline of more than one percent last week.

Currency market experts believe that due to the strength of the dollar index and weak global signals, the pressure on the rupee has increased continuously. Also, due to the rise in the price of crude oil and the selling by foreign investors in the domestic stock market, the demand for the dollar also increased. Due to this, the Indian currency has reached a record low.

Currency market expert Sarveshwar Dayal Sinha says that due to the rise in the price of crude oil, India's import bill has increased, due to which the pressure on the rupee is increasing rapidly. Also, the dollar index has been strengthening since Donald Trump won the US presidential election. Due to the strength of the dollar index, the currency of most countries around the world including the Indian currency rupee has been affected.

Sinha says that along with the rise in the dollar index, the pressure on the rupee has also increased due to the selling by foreign investors. Foreign investors have been continuously putting pressure to sell since the first day of January to withdraw their money. In such a situation, if the Reserve Bank of India does not intervene effectively, the value of the rupee can fall to the level of 87.

However, it is being said that there is not much possibility of intervention from the Reserve Bank of India to keep the exchange rate of rupee stable amid the pressure on the rupee, thus hitting the country's foreign exchange reserves.

In such a situation, if the Reserve Bank of India increases the flow of dollars in the currency market, it can have an adverse effect on the country's foreign exchange reserves. If the RBI remains neutral, the value of the rupee may fall further in the coming days.

Hindusthan Samachar / Jun Sarkar