At the interbank foreign exchange, the domestic unit opened weak at 82.71 against the dollar, then slipped further to 82.74, registering a fall of 9 paise over its previous close.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2WBCV4u
The value of a currency, such as the Indian rupee, is determined by supply and demand in the foreign exchange market. When the demand for a currency decreases, its value tends to fall relative to other currencies. Conversely, when the demand for a currency increases, its value tends to rise.
The statement "Rupee falls 9 paise to 82.74 against US dollar" indicates that the value of the Indian rupee has decreased by 9 paise against the US dollar. Paise is the subunit of the Indian rupee, with 1 rupee equal to 100 paise. This means that the rupee has depreciated by a small amount relative to the US dollar.
There can be a variety of reasons for a currency to depreciate, including economic conditions, market sentiment, and the relative strength of the currency. Factors such as higher demand for the US dollar, a weaker Indian economy, or negative market sentiment towards the rupee can all contribute to a decrease in its value relative to the US dollar.
