Rupee Vs Dollar: Indian Rupee hits new low, falls 14 paise to 77.69 per US dollar

 National Desk :

 Rupee has declined again and it has reached all time low.   On May 17, its price has come down to 77.76 per dollar in spot and 77.88 per dollar in futures.  Last week, it closed at 77.45 per dollar in the spot on Friday, while it was not traded on Monday.  Experts say that there are many such factors in the market right now, due to which the rupee does not see relief in the short term.  In the short term, if the dollar index does not decline, then it can show a downward trend of 78.50 to 79 per dollar.
 Ajay Kedia, director of Kedia Advisory, says that in the short term, the rupee is showing pressure against the dollar.  The biggest reason behind this is inflation.  The dollar index is at a 22-year high.  To control inflation in the US, there is every possibility of the US Fed raising interest rates further, which is strengthening the dollar index.  Brent crude has gone up to around $115 per barrel.  Talking about the Union Budget, the outlook for crude was kept at $ 70 to 75 per barrel, but it has become much more expensive than expected.  Due to this, energy inflation is on the sky.  He says that due to inflation, RBI has taken the step now and can take it further.  In such a situation, if the dollar index does not decline, then the rupee can show a price of 78.50 soon.