The dollar will bounce back on signs of declining bond buying in the US

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(Gujarat News Office) MUMBAI: The dollar closed higher in the Mumbai currency market today on the back of two-way fluctuations. The fall in the stock market also had an impact on the rupee's value in the currency market today, market analysts said.

The two-day meeting of the Federal Reserve in the United States began on Tuesday and will end on Wednesday (today). The dollar is likely to appreciate in the global market if there are indications of a reduction in bond buying, analysts said.

Meanwhile, in the Mumbai currency market, the dollar opened at Rs 4.5 in the morning with a low of Rs 7.5, after which it touched a low of Rs 4.5 and a high of Rs 4.5 to close at Rs 4.5. The dollar rose four paise today.

Meanwhile, in global markets, the dollar index touched a low of 7.5 today and a high of 6.5 to 7.5. The dollar index rose 0.15 per cent today.

In the Mumbai currency market, the British pound opened at Rs 105.5 against the rupee today. The pound's price remained soft overall today. However, the rise in the pound in global markets was indicative of a move above the 30-day moving average.

In the Mumbai market, the European currency, the euro, opened at Rs 4.50, opening at Rs 4.31 and closing at a high of Rs 4.5 and a low of Rs 4.5 to Rs 4.5. The euro fell five paise today.

Meanwhile, the Japanese yen rose 0.7 per cent against the rupee at the end of the day, while the Chinese currency fell 0.8 per cent at the end of the day, currency market sources said.

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