China's currency rises against the rupee despite weak GDP figures

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(Gujarat News Office) MUMBAI: The dollar rose against the rupee in early trade today. Market insiders were surprised as the rupee weakened against the dollar despite a record rally in the stock market. In the Mumbai market, the dollar opened at Rs 4.5 this morning and closed at Rs 4.5, a low of Rs 4.5 and a high of Rs 4.5.

The dollar rose 3 paise today. The dollar index rose 0.15 per cent against various major currencies in the global market today, crossing the 6.00 mark and hovering around 8.05 to 2.05.

In addition to the dollar against the rupee, the British pound also rose today. The pound opened at Rs 109.5 with a price of Rs 103.5 and closed at Rs 105.81, a low of Rs 105.70 and a high of Rs 106.51.

The pound was up 19 paise today. However, European euros remained soft against the rupee today. The euro was down 11 paise at around Rs 7.5 to Rs 7.5.

Japan's yen traded 0.4 per cent lower against the rupee at the end of the day, market sources said. However, China's currency rose 0.6 per cent against the rupee today, sources said. Globally, there were indications of rising inflation in various countries and it was being watched by market players.

Despite the weakening of GDP in China today, analysts were surprised as the Chinese currency rose against the rupee in the domestic currency market today. The British pound rose against the rupee today amid signs that interest rates will rise in Britain.


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