Bank of China pours another 100 billion yuan into the system

(Gujarat News Office) MUMBAI: The dollar rebounded against the rupee in the Mumbai currency market today as the stock market plunged from a high. The dollar opened at Rs 4.50 this morning, opening at Rs 4.51, after hitting a low of Rs 4.31, bouncing back to Rs 4.5 and closing at Rs 4.5.

The dollar had gained 19 paise today. In global markets, the dollar index rose by 0.08 per cent against various major currencies today. The global dollar index, which is 7.5, was at a low of 7.81 today and a high of 6.5 to 7.81.

Japan's yen plunged to a six-month low in global markets today on the back of a safe haven.

However, there were indications that the Australian dollar had risen below its four-week low. US bond and treasury yields rise in global markets Meanwhile, amid a financial crisis in China, China's central bank The People's Bank of China today announced another 100 billion yuan (૪૭ 16.5 billion) in the financial system. The bank pumped 20 billion yuan into the system last week.

Meanwhile, the British pound was trading 15 paise higher at Rs 101.15 to Rs 101.15 against the rupee in the Mumbai currency market today.

The European currency, the euro, lost 10 paise to Rs 4.5 to Rs 7.5 today. Japan's yen was down 0.05 per cent at the end of the day against the rupee, while China's currency was up 0.3 per cent at the end of the day. This was stated by currency market sources.