China's currency fell to a four-week low

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(Gujarat News Office) MUMBAI: The Mumbai currency market today rallied against the rupee and the dollar fell again. The dollar had lost 15 paise to Rs 2.31. In the global market, the dollar index was down 0.15 per cent against various major currencies today.

The two-day meeting of the Federal Reserve in the US began on Tuesday and will conclude on Wednesday, with market players keeping an eye on what is being signaled about reducing bond buying in the US. The global index of the dollar, which is 7.5, fell to 8.15 today and remained at 6.15.

Sources said that the rupee had appreciated against the dollar in the currency market on the back of a rebound in the Mumbai Stock Exchange today. Meanwhile, in world markets, China's currency, the yuan, fell to a four-week low against the dollar against offshore prices.

There were reports that a major Chinese construction company was hit by the financial crisis, which adversely affected the Chinese economy. The Chinese currency depreciated against the dollar from 7.5 to 7.5. The possibility of further weakening of the yuan was discussed in world markets today.

The Bank of Japan is scheduled to meet on Wednesday (today). Amid the election in Canada, there was news that the Canadian currency had rebounded after falling to a four-week low. Indications of a delay in interest rate hikes in New Zealand were indications that the New Zealand dollar was falling in world markets.

In the Mumbai currency market, the dollar fell to Rs 6.5 from Rs 4.51 today. While the British pound fell from Rs 100.51 to Rs 100.5 today was Rs 100.5. European currencies, however, rose by eight paise to Rs 2.50 today.

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