The dollar bounced back to a nine-month high

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(Gujarat News Office) MUMBAI: The US Federal Reserve currently buys an average of about ૨ 150 billion a month in the form of stimulus per month, and there are indications that such bond buying will be reduced by the end of this year on the back of rising inflation and signs of recovery in the economy. The minutes issued by the meeting have been leaked and this has had a positive effect on the value of the dollar in global currency markets, currency market analysts said.

The dollar hit a nine-month high in world markets today. In the world market today, there were indications of a significant retreat against the dollar, especially in the European currency, the euro, and in the Australian and New Zealand currencies.

The euro was trading at ૬૮૪ 1.15 against the dollar, while the New Zealand currency was trading at ૬૮૪૮ 0.3. The Mumbai currency market was closed today due to a bank holiday.

Meanwhile, the Australian dollar fell to ૭૨ 0/615 and was trading at ૭૨૫૬૫ 0/5. The Australian dollar rose slightly on the back of weaker-than-expected job growth figures in Australia. Against various major currencies, the dollar index rose to a level of 6.5 to 7.5. The last meeting of the US Federal Reserve was held on July 6-7 and the minutes of this meeting were released on Wednesday.

Sources in the Federal Reserve said that the United States is now monitoring how employment opportunities increase. When the government reduces bond buying, the liquidity of the currency in the financial market decreases and the price of the currency rises. Now, the annual meeting of the Federal Reserve is scheduled for August 6-7 and is being watched by currency market sources.

Interest rates in New Zealand were expected to rise recently, but there have been indications that interest rate hikes have been pushed back since the Corona case came to light, and the impact on the world market has been a weakening of New Zealand's currency. In addition to New Zealand, delta virus cases have also increased in Australia.

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