Rupee rises on falling crude

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(Gujarat News Office) MUMBAI: The dollar weakened against the rupee in early trade today. Despite a sharp fall in the stock market, the rupee rose in the currency market today instead of depreciating.

After opening at Rs 4.5 today, the dollar closed at Rs 6.5, a low of Rs 4.5 and a high of Rs 4.5. The dollar had lost 15 paise today. However, the dollar index rose against various major currencies in world markets today. The dollar index, which was trading at 2.50, rose to a high of 7.5 today.

The dollar index had gained 0.04 per cent today. According to currency market analysts, the rupee rose against the dollar in early trade on lower global crude oil prices. In addition to the dollar, the rupee also rose against the British pound in the Mumbai currency market today. The price of the pound fell.

The pound traded lower at Rs 109.50 and closed at Rs 103.5. The pound was down 19 paise. There was news of a rise in the Canadian dollar against the US dollar in world markets. The possibility of rising interest rates in Canada is being discussed.

European currencies also traded lower against the rupee in the Mumbai market today. The euro, which was trading at Rs 6.5, was lower at Rs 6.5 and Rs 4.5 today. The euro was down 19 paise. The Japanese rupee depreciated by 0.07 per cent against the rupee, while the Chinese currency traded lower by 0.4 per cent against the rupee at the end of the day, market sources said.


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